<SEC-DOCUMENT>0001292814-14-002737.txt : 20141126
<SEC-HEADER>0001292814-14-002737.hdr.sgml : 20141126
<ACCEPTANCE-DATETIME>20141126114744
ACCESSION NUMBER:		0001292814-14-002737
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		85
CONFORMED PERIOD OF REPORT:	20140930
FILED AS OF DATE:		20141126
DATE AS OF CHANGE:		20141126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL STEEL CO
		CENTRAL INDEX KEY:			0001049659
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14732
		FILM NUMBER:		141252358

	BUSINESS ADDRESS:	
		STREET 1:		RUA LAURO MULLER
		STREET 2:		116 36 ANDAR
		CITY:			RIO DE JANEIRO RJ BR
		STATE:			D5
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>siditr3q14_6k.htm
<DESCRIPTION>ITR 3Q14
<TEXT>

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   <TITLE>siditr3q14_6k.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<DIV>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, D.C. 20549 </B></FONT></DIV>

<DIV>&nbsp;</DIV>

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<DIV>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>FORM 6-K </B></FONT></DIV>

<DIV>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Report of Foreign Private Issuer<BR>Pursuant to Rule 13a-16 or 15d-16 of the</FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Securities Exchange Act of 1934</FONT></DIV>

<DIV>&nbsp;</DIV>

<DIV align=center>

<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of November 26, 2014</B></FONT></DIV><FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number 1-14732 </B></FONT></DIV>

<DIV>&nbsp;</DIV>

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<DIV>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>COMPANHIA SIDER&#218;RGICA NACIONAL </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Exact name of registrant as specified in its charter) </FONT></DIV>

<DIV>&nbsp;</DIV>

<DIV align=center>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>National Steel Company </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Translation of Registrant's name into English)</FONT></DIV>

<DIV>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Av. Brigadeiro Faria Lima 3400, 20&#186; andar<BR>S&#227;o Paulo, SP, Brazil<BR>04538-132 </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Address of principal executive office)</FONT></DIV>

<DIV>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports<BR>under cover Form 20-F or Form 40-F.&nbsp;</FONT> Form 20-F ___X___ Form 40-F _______

<P>&nbsp;<FONT size=3 face="Times New Roman, Times, Serif">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </FONT>&nbsp;</P>Yes _______ No ___X____ </DIV>

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<font><div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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  <td><font face=Arial size=2><b>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE</b></font></td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004200.jpg" width=118></td>
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<tr>
  <td><font color=black face=arial,sans-serif><font color=black face=arial,sans-serif><font style="font-size:8pt;">ITR &#8211;&#8211; Quarterly Financial Information - September 30, 2014 &#8211; CIA SIDERURGICA NACIONAL</font></font></font></td>
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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><font><font face=Arial,sans-serif><font style="font-size:8pt;font-weight:normal;">Version: 1</font></font></font></h2></td>
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</table></div></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"><br clear=all></font></font>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>&nbsp;</div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p align=right style="line-height:116%;margin:0cm 0cm 0pt;text-align:right;text-indent:18pt;">&nbsp;</p>

<h1 style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif><b><font style="font-size:10pt;">Table of Contents</font></b></font></h1>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;width:100%;">
 <tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;border-top:#bfbfbf 1pt solid;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Company Information</font></b></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;border-top:#bfbfbf 1pt solid;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Capital Breakdown</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cash Distribution</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Parent Company Financial Statements </font></b></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Balance Sheet &#8211; Assets</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Balance Sheet &#8211; Liabilities</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statement of Income</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statement of Comprehensive Income</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">6</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statement of Cash Flows</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">7</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Statement of Changes in Shareholders&#8217; Equity</font></b></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 1cm;"><font face=arial,sans-serif><font style="font-size:10pt;">1/1/2014 to 9/30/2014</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">9</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 1cm;"><font face=arial,sans-serif><font style="font-size:10pt;">1/1/2013 to 9/30/2013</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">10</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statement of Value Added</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">11</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Consolidated Financial Statements</font></b></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Balance Sheet - Assets</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Balance Sheet - Liabilities</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">13</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statement of Income</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">14</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statement of Comprehensive Income</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">15</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statement of Cash Flows</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">16</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Statement of Changes in Shareholders&#8217; Equity</font></b></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 1cm;"><font face=arial,sans-serif><font style="font-size:10pt;">1/1/2014 to 9/30/2014</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">18</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 1cm;"><font face=arial,sans-serif><font style="font-size:10pt;">1/1/2013 to 9/30/2013</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">19</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt 14.2pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statement of Value Added</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">20</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Comments on the Company&#8217;s Consolidated Performance</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">22</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Notes to the Financial Statements</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">3<font face=Arial>0</font></font></font></p></td>
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<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Reports and Statements</font></b></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;">&nbsp;</p></td>
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<tr style="height:17pt;">
  <td valign=bottom width=88% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Unqualified Independent Auditors&#8217; Review Report </font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#bfbfbf 1pt dashed;height:17pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">82</font></font></p></td>
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<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

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<div style="page-break-before:always;">&nbsp;</div>

<a name="page_3"></a>

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<table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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  <td><font face=Arial size=2><b>CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE</b></font></td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004201.jpg" width=118></td>
 </tr>
<tr>
  <td><font color=black face=arial,sans-serif><font color=black face=arial,sans-serif><font style="font-size:8pt;">ITR &#8211;&#8211; Quarterly Financial Information - September 30, 2014 &#8211; CIA SIDERURGICA NACIONAL</font></font></font></td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><font><font face=Arial,sans-serif><font style="font-size:8pt;font-weight:normal;">Version: 1</font></font></font></h2></td>
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</table></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">Company Information / Capital Breakdown</font></b></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr style="height:14.2pt;">
  <td valign=bottom width=34% style="background:#bfbfbf;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Number of Shares</font></b></font></p>

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">(Units)</font></b></font></p></td>
 <td valign=bottom width=33% style="background:#bfbfbf;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Current Quarter</font></b></font></p>

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">9/30/2014</font></b></font></p></td>
 <td valign=bottom width=33% style="background:#bfbfbf;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:14.2pt;">
  <td valign=bottom width=34% style="background:#d9d9d9;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Paid-in Capital</font></b></font></p></td>
 <td valign=bottom width=33% style="background:#d9d9d9;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=33% style="background:#d9d9d9;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:14.2pt;">
  <td valign=bottom width=34% style="height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Common</font></b></font></p></td>
 <td valign=bottom width=33% style="height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;letter-spacing:-0.1pt;">1,387,524,047</font></font></p></td>
 <td valign=bottom width=33% style="height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:14.2pt;">
  <td valign=bottom width=34% style="border-bottom:#bfbfbf 1pt dashed;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Preferred</font></b></font></p></td>
 <td valign=bottom width=33% style="border-bottom:#bfbfbf 1pt dashed;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=bottom width=33% style="border-bottom:#bfbfbf 1pt dashed;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:14.2pt;">
  <td valign=bottom width=34% style="background:#f2f2f2;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Total</font></b></font></p></td>
 <td valign=bottom width=33% style="background:#f2f2f2;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;letter-spacing:-0.1pt;">1,387,524,047</font></font></p></td>
 <td valign=bottom width=33% style="background:#f2f2f2;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:14.2pt;">
  <td valign=bottom width=34% style="background:#d9d9d9;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Treasury Shares</font></b></font></p></td>
 <td valign=bottom width=33% style="background:#d9d9d9;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=33% style="background:#d9d9d9;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:14.2pt;">
  <td valign=bottom width=34% style="height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Common</font></b></font></p></td>
 <td valign=bottom width=33% style="height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">6,791,300</font></font></p></td>
 <td valign=bottom width=33% style="height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:14.2pt;">
  <td valign=bottom width=34% style="border-bottom:#bfbfbf 1pt dashed;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Preferred</font></b></font></p></td>
 <td valign=bottom width=33% style="border-bottom:#bfbfbf 1pt dashed;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=bottom width=33% style="border-bottom:#bfbfbf 1pt dashed;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
<tr style="height:14.2pt;">
  <td valign=bottom width=34% style="background:#f2f2f2;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Total</font></b></font></p></td>
 <td valign=bottom width=33% style="background:#f2f2f2;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p align=right style="margin:6pt 0cm 3pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">6,791,300</font></font></p></td>
 <td valign=bottom width=33% style="background:#f2f2f2;height:14.2pt;padding-bottom:0cm;padding-left:5.4pt;padding-right:5.4pt;padding-top:0cm;">

   <p style="margin:6pt 0cm 3pt;">&nbsp;</p></td>
 </tr>
</table></div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Page 1 of 83</font></font></p></div></div></div>

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<div>

<font face="Times New Roman"><div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004202.jpg" width=118></td>
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<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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</table></div><font lang=PT-BR style="font-size:10pt;"><br clear=all></font></font>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

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  <td colspan=2 nowrap width=33% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Company Information / Cash distribution</font></b></font></p></td>
 <td nowrap valign=bottom width=14% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=21% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:27pt;">
  <td valign=bottom width=21% style="border-bottom:windowtext 1pt solid;height:27pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:10pt;">Event</font></b></font></p></td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;height:27pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Approval</font></b></font></p></td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;height:27pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Dividends</font></b></font></p></td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;height:27pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Inition Payment</font></b></font></p></td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;height:27pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Type of share</font></b></font></p></td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;height:27pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Class of share</font></b></font></p></td>
 <td valign=bottom width=19% style="border-bottom:windowtext 1pt solid;height:27pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Dividends per common share (R$/share)</font></b></font></p></td>
 </tr>
<tr style="height:5.25pt;">
  <td valign=bottom width=21% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=12% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=14% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=10% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=12% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=12% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=19% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:15pt;">
  <td valign=bottom width=21% style="border-bottom:#a5a5a5 1pt dotted;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Meeting of Board of Directors</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#a5a5a5 1pt dotted;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:10pt;">02/28/2014</font></font></p></td>
 <td valign=bottom width=14% style="border-bottom:#a5a5a5 1pt dotted;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt 22.8pt;"><font color=black face=arial,sans-serif><font style="font-size:10pt;">Dividends</font></font></p></td>
 <td valign=bottom width=10% style="border-bottom:#a5a5a5 1pt dotted;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:10pt;">03/11/2014</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#a5a5a5 1pt dotted;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:10pt;">Ordinary</font></font></p></td>
 <td valign=bottom width=12% style="border-bottom:#a5a5a5 1pt dotted;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=bottom width=19% style="border-bottom:#a5a5a5 1pt dotted;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:10pt;">0.29150</font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">2</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_5"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004203.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:16pt;">
  <td colspan=3 nowrap width=75% style="height:16pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Parent Company Statements / Balance Sheet - Assets</font></b></font></p></td>
 <td valign=top width=25% style="height:16pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:16pt;">
  <td colspan=2 nowrap width=55% style="height:16pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap valign=bottom width=20% style="height:16pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=25% style="height:16pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=22% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=33% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:25.9pt;">
  <td align=left nowrap valign=bottom width=22% style="border-bottom:windowtext 1pt solid;height:25.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=left style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font style="font-size:10pt;">Code</font></i></b></font></p></td>
 <td align=left nowrap valign=bottom width=33% style="border-bottom:windowtext 1pt solid;height:25.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=left style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font style="font-size:10pt;">Description</font></i></b></font></p></td>
 <td valign=bottom width=20% style="border-bottom:windowtext 1pt solid;height:25.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Current Quarter 9/30/2014</font></b></font></p></td>
 <td valign=bottom width=25% style="border-bottom:windowtext 1pt solid;height:25.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Previous Year 12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap valign=top width=22% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">1</font></font></p></td>
 <td nowrap width=33% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Total assets</font></font></p></td>
 <td nowrap width=20% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">49,048,756 </font></font></p></td>
 <td width=25% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">48,689,176 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">1.01</font></font></p></td>
 <td nowrap width=33% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Current assets</font></font></p></td>
 <td nowrap width=20% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,255,094 </font></font></p></td>
 <td width=25% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,054,174 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif><font style="font-size:10pt;">1.01.01</font></font></p></td>
 <td nowrap width=33% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cash and cash equivalents</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">477,282 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">206,624 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif><font style="font-size:10pt;">1.01.03</font></font></p></td>
 <td nowrap width=33% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade receivables</font></font></p></td>
 <td nowrap width=20% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,189,074 </font></font></p></td>
 <td width=25% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,992,704 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif><font style="font-size:10pt;">1.01.04</font></font></p></td>
 <td nowrap width=33% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Inventories</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,064,068 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,459,230 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif><font style="font-size:10pt;">1.01.08</font></font></p></td>
 <td nowrap width=33% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other current assets</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">524,670 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">395,616 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02</font></font></p></td>
 <td nowrap width=33% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Non-current assets</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">43,793,662 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">43,635,002 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.01</font></font></p></td>
 <td nowrap width=33% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Long-term receivables</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,318,947 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,134,846 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.01.06</font></font></p></td>
 <td nowrap width=33% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Deferred taxes</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,186,320 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,612,998 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.01.09</font></font></p></td>
 <td nowrap width=33% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other non-current assets</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,132,627 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,521,848 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.02</font></font></p></td>
 <td nowrap width=33% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Investments</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">26,455,426 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">27,005,592 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.03</font></font></p></td>
 <td nowrap width=33% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Property, plant and equipment</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,863,307 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,418,095 </font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap width=22% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.04</font></font></p></td>
 <td nowrap width=33% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Intangible assets</font></font></p></td>
 <td nowrap width=20% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">155,982 </font></font></p></td>
 <td width=25% style="background:white;height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">76,469 </font></font></p></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">3</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_6"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004204.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.8pt;">
  <td colspan=3 nowrap width=77% style="height:15.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Parent Company Statements / Balance Sheet &#8211; Liabilities</font></b></font></p></td>
 <td nowrap width=23% style="height:15.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:15.8pt;">
  <td colspan=2 nowrap width=58% style="height:15.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap valign=bottom width=19% style="height:15.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:15.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:25.55pt;">
  <td nowrap valign=bottom width=16% style="border-bottom:windowtext 1pt solid;height:25.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font style="font-size:10pt;">Code</font></i></b></font></p></td>
 <td nowrap valign=bottom width=42% style="border-bottom:windowtext 1pt solid;height:25.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font style="font-size:10pt;">Description</font></i></b></font></p></td>
 <td valign=bottom width=19% style="border-bottom:windowtext 1pt solid;height:25.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Current Quarter 9/30/2014</font></b></font></p></td>
 <td valign=bottom width=23% style="border-bottom:windowtext 1pt solid;height:25.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Previous Year&nbsp;12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">2</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Total liabilities </font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">49,048,756 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">48,689,176 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">2.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Current liabilities</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">6,324,047 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">6,503,789 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">2.01.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Payroll and related taxes</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">191,438 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">159,892 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade payables</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,157,495 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">926,935 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.03</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Taxes payable</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">100,747 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">150,066 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.04</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Borrowings and financing</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,593,638 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,854,694 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.05</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other payables</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">851,132 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,138,956 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=16% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.06</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Provisions</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">429,597 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">273,246 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=16% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.06.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for tax, social security, labor and civil risks</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">429,597 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">273,246 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Non-current liabilities</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">36,841,925 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">34,088,817 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Borrowings and financing</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">24,086,936 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">21,394,660 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other payables</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">10,765,066 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">10,173,732 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Provisions</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,989,923 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,520,425 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for tax, social security, labor and civil risks</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">167,164 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">438,114 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other provisions</font></font></p></td>
 <td nowrap width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,822,759 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,082,311 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.02.03</font></font></p></td>
 <td nowrap valign=bottom width=42% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for environmental liabilities and asset retirement obligation - ARO</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">231,019 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">365,716 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.02.04</font></font></p></td>
 <td nowrap valign=bottom width=42% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Pension and healthcare plan</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">485,084 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">485,084 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.02.05</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for losses on investments</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,106,656 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,231,511 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Shareholders&#8217; equity</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,882,784 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">8,096,570 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Issued capital</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,540,000 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,540,000 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Capital reserves</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">30 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">30 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.04</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Earnings reserves</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,668,280 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,839,568 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.04.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Legal reserve</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">361,641 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">361,641 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.04.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statutory reserve</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,373,309 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,477,927 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.04.09</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Treasury shares</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-66,670</font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=Arial><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.05</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Retained earnings/Accumulated losses</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=Arial><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.08</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other comprehensive income</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-152,470</font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">716,972 </font></font></p></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">4</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_7"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<font face="Times New Roman"><div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004205.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div></font>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.95pt;">
  <td colspan=3 nowrap width=58% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Parent Company Statements / Statements of Income </font></b></font></p></td>
 <td nowrap valign=bottom width=14% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=14% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=top width=14% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:15.95pt;">
  <td colspan=2 nowrap width=45% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap valign=bottom width=13% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=14% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=14% style="height:15.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:24.3pt;">
  <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;height:24.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td nowrap valign=bottom width=31% style="border-bottom:windowtext 1pt solid;height:24.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td width=13% style="border-bottom:windowtext 1pt solid;height:24.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Current Quarter</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">7/1/2014 to 9/30/2014</font></b></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;height:24.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Current Year</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">1/1/2014 to 9/30/2014</font></b></font></p></td>
 <td valign=top width=14% style="border-bottom:windowtext 1pt solid;height:24.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Same Quarter of </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Previous Year <br>7/1/2013 to 9/30/2013</font></b></font></p></td>
 <td valign=top width=14% style="border-bottom:windowtext 1pt solid;height:24.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Previous </font></b></font><font face=arial,sans-serif><b><font style="font-size:9pt;">Year</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">1/1/2013 to 9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net revenue from sales and/or services </font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,092,336</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">9,812,948</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,730,830</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">9,872,130</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.02</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cost of sales and/or services </font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,290,584</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,661,971</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,626,539</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-7,248,285</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.03</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Gross profit</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">801,752</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,150,977</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,104,291</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,623,845</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Operating expenses/income</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">772,653</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-343,970</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">54,531</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">376,874</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Selling expenses</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-113,556</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-324,964</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-126,726</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-366,150</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.02</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">General and administrative expenses</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-92,761</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-279,520</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-72,816</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-236,009</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.04</font></font></p></td>
 <td nowrap valign=bottom width=31% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other operating income</font></font></p></td>
 <td nowrap valign=top width=13% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,537</font></font></p></td>
 <td nowrap valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,366</font></font></p></td>
 <td valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-28,817</font></font></p></td>
 <td valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-23,608</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.05</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other operating expenses</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-42,618</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-222,859</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-114,177</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-336,862</font></font></p></td>
 </tr>
<tr style="height:13.7pt;">
  <td nowrap valign=bottom width=14% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.06</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Share of profits of investees</font></font></p></td>
 <td nowrap valign=top width=13% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,019,051</font></font></p></td>
 <td nowrap valign=top width=14% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">471,007</font></font></p></td>
 <td valign=top width=14% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">397,067</font></font></p></td>
 <td valign=top width=14% style="height:13.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,339,503</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.05</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Profit before finance income (costs) and taxes</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,574,405</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,807,007</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,158,822</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,000,719</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance income (costs)</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,938,797</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-3,256,374</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-724,391</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,504,369</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance income</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">71,393</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">97,259</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">28,275</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">98,895</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06.02</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance costs</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,010,190</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-3,353,633</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-752,666</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,603,264</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06.02.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net exchange gains (losses) on financial instruments</font></font></p></td>
 <td nowrap valign=top width=13% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,153,777</font></font></p></td>
 <td nowrap valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-605,862</font></font></p></td>
 <td valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-36,435</font></font></p></td>
 <td valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-625,692</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06.02.02</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance costs</font></font></p></td>
 <td nowrap valign=top width=13% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-856,413</font></font></p></td>
 <td nowrap valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,747,771</font></font></p></td>
 <td valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-716,231</font></font></p></td>
 <td valign=top width=14% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,977,572</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.07</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Loss (profit) before taxes on income</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-364,392</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-449,367</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">434,431</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">496,350</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.08</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Income tax and social contribution </font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">114,287</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">276,311</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">65,251</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">525,127</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.09</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Profit from continuing operations </font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-250,105</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">499,682</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,477</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.11</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Profit for the period</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-250,105</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">499,682</font></font></p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,477</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Earnings per share - (R$/share)</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Basic earnings per share</font></font></p></td>
 <td nowrap valign=top width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:3.7pt;">
  <td nowrap valign=bottom width=14% style="height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99.01.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Common shares</font></font></p></td>
 <td nowrap valign=top width=13% style="height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-0.18008</font></font></p></td>
 <td nowrap valign=top width=14% style="height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-0.12105 </font></font></p></td>
 <td valign=top width=14% style="height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0.34272 </font></font></p></td>
 <td valign=top width=14% style="height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0.70062 </font></font></p></td>
 </tr>
<tr style="height:10.55pt;">
  <td nowrap valign=bottom width=14% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99.02</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Diluted earnings per share</font></font></p></td>
 <td nowrap valign=top width=13% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=top width=14% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=14% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=14% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:10.55pt;">
  <td nowrap valign=bottom width=14% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99.02.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Common shares</font></font></p></td>
 <td nowrap valign=top width=13% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-0.18008</font></font></p></td>
 <td nowrap valign=top width=14% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-0.12105 </font></font></p></td>
 <td valign=top width=14% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0.34272 </font></font></p></td>
 <td valign=top width=14% style="height:10.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0.70062 </font></font></p></td>
 </tr>
</table></div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">5</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_8"></a><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"><br clear=all></font></font>

<div style="padding-left:0%;padding-right:0%;">

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004206.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<div align=left>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td colspan=4 nowrap width=72% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Parent Company Statements / Statement of Comprehensive Income</font></b></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td colspan=2 nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr>
  <td valign=bottom width=9% style="border-bottom:#000000 1px solid;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td valign=bottom width=34% style="border-bottom:#000000 1px solid;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td align=right valign=bottom width=14% style="border-bottom:#000000 1px solid;">&nbsp;<font face=arial,sans-serif><font style="font-size:8pt;">

   </font><p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current Quarter</font></b></font></p><b><font style="font-size:8pt;">7/1/2014 to 9/30/2014</font></b></font> </td>
 <td align=right valign=bottom width=15% style="border-bottom:#000000 1px solid;">&nbsp;

   <p align=right style="margin:0cm 3.6pt 0pt 0cm;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current Year <br>1/1/2014 to 9/30/2014</font></b></font></p></td>
 <td align=right valign=bottom width=12% style="border-bottom:#000000 1px solid;">&nbsp;

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Same Quarter of <br>Previous Year <br>7/1/2013 to 9/30/2013</font></b></font></p></td>
 <td align=right valign=bottom width=16% style="border-bottom:#000000 1px solid;">

   <p align=right style="margin:0cm 3.6pt 0pt 0cm;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Previous Year <br>1/1/2013 to 9/30/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.01</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Profit for the period</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-250,105</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">499,682</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,477</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other comprehensive income</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-98,799</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-869,442</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">399,378</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-171,048</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.01</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cumulative translation adjustments for the period</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">60,745</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-26,602</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">47,884</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">128,932</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.02</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Actuarial (losses) gains on defined benefit pension planfrom investments in</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,710</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">subsidiaries</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.03</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-149,474</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,208,939</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">538,983</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-203,457</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.04</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Income tax and social contribution on available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">50,821</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">411,039</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-183,255</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">69,175</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.05</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Available-for-sale financial assets from investments in subsidiaries</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-17,470</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-4,234</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-167,922</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.06</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Impairment of available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">18,429</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">66,476</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,369</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.07</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Income tax and social contribution on available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,266</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-22,602</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,145</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.08</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">(Loss)/gain on the percentage change of investments</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-73,054</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-73,054</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.03</font></font></p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Comprehensive income for the period</font></font></p></td>
 <td nowrap valign=top width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-348,904</font></font></p></td>
 <td nowrap valign=top width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,042,498</font></font></p></td>
 <td valign=top width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">899,060</font></font></p></td>
 <td valign=top width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">850,429</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=34% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
</table></div>

<p>&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p>&nbsp;</p></div>

<p>&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p>&nbsp;</p></div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">6</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_9"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004207.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Parent Company Statements / Statement of Cash Flows &#8211; Indirect Method</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 nowrap width=67% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:36.75pt;">
  <td valign=bottom width=14% style="border-bottom:windowtext 1pt solid;height:36.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td valign=bottom width=53% style="border-bottom:windowtext 1pt solid;height:36.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td valign=bottom width=16% style="border-bottom:windowtext 1pt solid;height:36.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Current Year<br>1/1/2014 to 9/30/2014</font></b></font></p></td>
 <td valign=bottom width=17% style="border-bottom:windowtext 1pt solid;height:36.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Previous Year<br>1/1/2013 to 9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net cash generated by operating activities</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">806,633</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,091,241</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cash generated from operations</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,832,279</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,437,171</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.01</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Profit for the period</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,477</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.02</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Charges on borrowings and financing</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,394,687</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,828,087</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.03</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Charges on loans and financing granted</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-10,446</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-34,054</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.04</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Depreciation, depletion and amortization</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">747,644</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">698,973</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.05</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Share of profits of investees</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-471,007</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,339,503</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.06</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Deferred income tax and social contribution</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-306,781</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-525,127</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.08</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for tax, social security, labor, civil and environmental risks</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-57,122</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">77,526</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.09</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Monetary variation and exchange differences, net</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">586,628</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">741,618</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.10</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Gain on derivative transactions</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">943</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,385</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.11</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Impairment of available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">66,476</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,369</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.12</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Residual value of permanent assets written off</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">11,970</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">7,771</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.14</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other provisions</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">42,343</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-46,351</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Changes in assets and liabilities</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,025,646</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,345,930</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.01</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade receivables - third parties</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">142,114</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,628</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.02</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade receivables - related parties</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-248,444</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-97,096</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.03</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Inventories</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-697,314</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">53,629</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.05</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Recoverable taxes</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">56,066</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-9,286</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.06</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Judicial deposits</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-30,801</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-9,754</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.07</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Dividends received from related parties</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">274,335</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">295,912</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.<font face=Arial>09</font></font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade payables</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">191,100</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-251,948</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.1<font face=Arial>0</font></font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Payroll and related taxes</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">6,175</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">90,743</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.1<font face=Arial>1</font></font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Taxes in installments - REFIS</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-59,898</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-20,231</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.13</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Payables to related parties</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">45,133</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-3,122</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.15</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest paid</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,733,891</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,356,808</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.16</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest received</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">13,595</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,420</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.17</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest on swaps paid</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,279</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-3,434</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.18</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">17,463</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-35,327</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net cash used in investing activities</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,005,313</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,410,481</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.01</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Investments</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-49,679</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-83,111</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.02</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Purchase of property, plant and equipment</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,092,393</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,048,763</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.07</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Purchase of intangible assets</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-11</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.08</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Related parties loans</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-31,506</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-299,167</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.09</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Receipt of related parties loans</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">168,265</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">20,150</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.10</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cash from merger of subsidiaries</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">421</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net cash used in financing activities</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">469,338</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,139,453</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.01</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Borrowings and financing raised</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,364,400</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">557,517</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.02</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Borrowings and financing raised - related parties</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,528,240</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.03</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Repayment of borrowings</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,127,864</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-414,053</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.04</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Repayment of borrowings - related parties</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-124,215</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-126,181</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.05</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Dividends and interest on capital paid</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-424,935</font></font></p></td>
 <td nowrap valign=top width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,156,736</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.06</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Treasury shares</font></font></p></td>
 <td nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-746,288</font></font></p></td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=14% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.05</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Increase (decrease) in cash and cash equivalents</font></font></p></td>
 <td nowrap valign=top width=16% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">270,658 </font></font></p></td>
 <td nowrap valign=top width=17% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,458,693</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=14% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.05.01</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cash and equivalents at the beginning of the period</font></font></p></td>
 <td nowrap valign=top width=16% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">206,624 </font></font></p></td>
 <td nowrap valign=top width=17% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,995,757 </font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=14% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.05.02</font></font></p></td>
 <td nowrap valign=bottom width=53% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cash and equivalents at the end of the period</font></font></p></td>
 <td nowrap valign=top width=16% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">477,282 </font></font></p></td>
 <td nowrap valign=top width=17% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,537,064 </font></font></p></td>
 </tr>
</table></div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">7</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_10"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004208.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=12 nowrap width=98% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Parent Company Statements / Statement of Changes in Shareholders&#180; Equity - 1/1/2014 to 9/30/2014</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:15.75pt;">
  <td colspan=2 nowrap width=38% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap valign=bottom width=8% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=8% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=13% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:40pt;">
  <td valign=bottom width=8% style="border-bottom:windowtext 1pt solid;height:40pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td valign=bottom width=30% style="border-bottom:windowtext 1pt solid;height:40pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td valign=bottom width=8% style="border-bottom:windowtext 1pt solid;height:40pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Paid-in capital </font></b></font></p></td>
 <td colspan=2 valign=bottom width=12% style="border-bottom:windowtext 1pt solid;height:40pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Capital reserve, granted options and treasury shares</font></b></font></p></td>
 <td valign=bottom width=8% style="border-bottom:windowtext 1pt solid;height:40pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Earnings reserve </font></b></font></p></td>
 <td colspan=3 valign=bottom width=11% style="border-bottom:windowtext 1pt solid;height:40pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Retained earnings/</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">(accumulated losses) </font></b></font></p></td>
 <td colspan=2 valign=bottom width=13% style="border-bottom:windowtext 1pt solid;height:40pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Other comprehensive income</font></b></font></p></td>
 <td colspan=2 valign=bottom width=10% style="border-bottom:windowtext 1pt solid;height:40pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Shareholders&#180; Equity</font></b></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.01</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Opening balances</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,540,000</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,839,568</font></font></p></td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">716,972</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">8,096,570</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.03</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Adjusted opening balances</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,540,000</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,839,568</font></font></p></td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">716,972</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">8,096,570</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.04</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Capital transactions with shareholders</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,171,288</font></font></p></td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,171,288</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.04.04</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Treasury shares acquired</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-746,288</font></font></p></td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-746,288</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.04.06</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Dividends</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-425,000</font></font></p></td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-425,000</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.04.08</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cancell<font face=Arial>ed</font> of treasury shares</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">679,618</font></font></p></td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">679,618</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.04.09</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cancell<font face=Arial>ed</font> of treasury shares</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-679,618</font></font></p></td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-679,618</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.05</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Total comprehensive income</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-869,442</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,042,498</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.05.01</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Profit for the period</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.05.02</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other comprehensive income</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-869,442</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-869,442</font></font></p></td>
 </tr>
<tr style="height:11.35pt;">
  <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.05.02.04</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cumulative translation adjustments for the period</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-26,602</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-26,602</font></font></p></td>
 </tr>
<tr style="height:1pt;">
  <td nowrap valign=bottom width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.05.02.08</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Actuarial (losses) gains on defined benefit pension plan, net of taxes</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,710</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,710</font></font></p></td>
 </tr>
<tr style="height:1pt;">
  <td nowrap valign=bottom width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.05.02.09</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Available-for-sale financial assets, net of taxes</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-771,496</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-771,496</font></font></p></td>
 </tr>
<tr style="height:1pt;">
  <td nowrap valign=bottom width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.05.02.10</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Loss/gain on the percentage variation of investments</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-73,054</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-73,054</font></font></p></td>
 </tr>
<tr style="height:1pt;">
  <td nowrap valign=bottom width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">5.07</font></font></p></td>
 <td nowrap valign=bottom width=30% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Closing balances</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,540,000</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=12% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=top width=8% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,668,280</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td colspan=2 nowrap valign=top width=13% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-152,470</font></font></p></td>
 <td colspan=2 nowrap valign=top width=10% style="height:1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,882,784</font></font></p></td>
 </tr>
<tr>
  <td width=8%>&nbsp;</td>
 <td width=30%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=10%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">8</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_11"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004209.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td colspan=12 nowrap width=98% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">Parent Company Statements / Statement of Changes in Shareholders&#180; Equity - 1/1/2013 to 9/30/2013</font></b></font></p></td>
 <td width=2% style="padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td colspan=2 nowrap width=39% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=14% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td valign=bottom width=2% style="padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td valign=bottom width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">Code</font></b></font></p></td>
 <td valign=bottom width=31% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">Description</font></b></font></p></td>
 <td valign=bottom width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">Paid-in capital </font></b></font></p></td>
 <td colspan=2 valign=bottom width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Capital reserve, granted options and treasury shares</font></b></font></p></td>
 <td valign=bottom width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">Earnings reserve </font></b></font></p></td>
 <td colspan=3 valign=bottom width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">Retained earnings/</font></b></font></p>

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">(accumulated losses) </font></b></font></p></td>
 <td colspan=2 valign=bottom width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">Other comprehensive income</font></b></font></p></td>
 <td colspan=2 valign=bottom width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">Shareholders&#180; Equity</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Opening balances</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">4,540,000</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">3,690,543</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">386,324</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">8,616,897</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.03</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Adjusted opening balances</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">4,540,000</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">3,690,543</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">386,324</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">8,616,897</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.04</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Capital transactions with shareholders</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-560,000</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-400,026</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-960,026</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.04.06</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Dividends</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-210,000</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-210,000</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.04.07</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest on equity capital</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-190,026</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-190,026</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.04.11</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Approval of prior year's proposed dividends</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-560,000</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-560,000</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Total comprehensive income</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">1,021,477</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-171,048</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">850,429</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05.01</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Profit for the period</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">1,021,477</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">1,021,477</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05.02</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Other comprehensive income</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-171,048</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-171,048</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05.02.04</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cumulative translation adjustments for the period</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">128,932</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">128,932</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05.02.08</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Available-for-sale financial assets, net of taxes</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-299,980</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-299,980</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.07</font></font></p></td>
 <td nowrap valign=bottom width=31% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Closing balances</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">4,540,000</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=10% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=bottom width=8% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">3,130,543</font></font></p></td>
 <td colspan=3 nowrap valign=top width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">621,451</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=13% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">215,276</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=11% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">8,507,300</font></font></p></td>
 </tr>
<tr>
  <td width=8%>&nbsp;</td>
 <td width=31%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>&nbsp;</div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">9</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name=page_11></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004210.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=3 nowrap width=78% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Parent Company Statements / Statement of Value Added </font></b></font></p></td>
 <td nowrap width=22% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:15.75pt;">
  <td colspan=2 nowrap width=57% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap width=21% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=22% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=21% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=22% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=14% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td valign=bottom width=43% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td valign=bottom width=21% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">&nbsp;Current year<br>1/1/2014 to 9/30/2014</font></b></font></p></td>
 <td valign=bottom width=22% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Previous year<br>1/1/2013 to 9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Revenues</font></font></p></td>
 <td nowrap valign=top width=21% style="border-top:windowtext 1pt solid;height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">11,922,194</font></font></p></td>
 <td nowrap valign=top width=22% style="border-top:windowtext 1pt solid;height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,096,876</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.01.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Sales of products and services</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">11,881,880</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,047,163</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.01.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other revenues</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">49,646</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">48,006</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.01.04</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Allowance for (reversal of) doubtful debts</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-9,332</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,707</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Raw materials acquired from third parties</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,967,591</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-7,970,108</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.02.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Costs of sales and services</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,103,603</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,990,593</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.02.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Materials, electric power, outside services and other</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-794,338</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-994,376</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.02.03</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Impairment/recovery of assets</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-69,650</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">14,861</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.03</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Gross value added</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,954,603</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,126,768</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.04</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Retentions</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-747,644</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-698,973</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.04.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Depreciation, amortization and depletion</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-747,644</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-698,973</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.05</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Wealth created</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,206,959</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,427,795</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.06</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Value added received as transfer</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">581,102</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,635,586</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.06.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Share of profits of investees</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">471,007</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,339,503</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.06.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance income</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">97,259</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">98,895</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.06.03</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,836</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">197,188</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.07</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Wealth for distribution</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,788,061</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,063,381</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Wealth distributed</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,788,061</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,063,381</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Personnel</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">961,743</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">795,133</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.01.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Salaries and wages</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">749,074</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">617,705</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.01.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Benefits</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">160,345</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">132,127</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.01.03</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Severance pay fund (FGTS) </font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">52,324</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">45,301</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Taxes, fees and contributions</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">640,026</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">440,244</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.02.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Federal</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">510,356</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">309,068</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.02.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">State</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">111,656</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">114,238</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.02.03</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Municipal</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">18,014</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">16,938</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.03</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Lenders and lessors </font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,359,348</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,806,527</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.03.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,747,158</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,977,339</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.03.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Leases</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">7,326</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">7,638</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.03.03</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">604,864</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">821,550</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Shareholders</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,477</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04.01</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest on equity capital</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">190,026</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04.02</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Dividends</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">210,000</font></font></p></td>
 </tr>
<tr style="height:17pt;">
  <td nowrap valign=bottom width=14% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04.03</font></font></p></td>
 <td nowrap valign=bottom width=43% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Retained earnings (accumulated losses) for the period</font></font></p></td>
 <td nowrap valign=top width=21% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td nowrap valign=top width=22% style="height:17pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">621,451</font></font></p></td>
 </tr>
</table></div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">10</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name=page_12></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004211.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:16.2pt;">
  <td colspan=5 nowrap width=82% style="height:16.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Consolidated Financial Statements / Balance Sheet - Assets</font></b></font></p></td>
 <td nowrap width=18% style="height:16.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:16.2pt;">
  <td colspan=4 nowrap width=66% style="height:16.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap valign=bottom width=16% style="height:16.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:16.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=16% style="height:13.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=50% style="height:13.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="height:13.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=18% style="height:13.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:26.25pt;">
  <td nowrap width=16% style="border-bottom:windowtext 1pt solid;height:26.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><i><font style="font-size:10pt;">Code</font></i></b></font></p></td>
 <td colspan=3 nowrap width=50% style="border-bottom:windowtext 1pt solid;height:26.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font style="font-size:10pt;">Description</font></i></b></font></p></td>
 <td valign=bottom width=16% style="border-bottom:windowtext 1pt solid;height:26.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Current Quarter<br>9/30/2014</font></b></font></p></td>
 <td valign=bottom width=18% style="border-bottom:windowtext 1pt solid;height:26.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Previous Year <br>12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">1</font></font></p></td>
 <td nowrap width=45% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Total assets</font></font></p></td>
 <td colspan=2 nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">49,731,948 </font></font></p></td>
 <td nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">50,402,539 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">1.01</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Current assets</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">15,597,390 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">16,402,042 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.01.01</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cash and cash equivalents</font></font></p></td>
 <td colspan=2 nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">8,971,362 </font></font></p></td>
 <td nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">9,995,672 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.01.03</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade receivables</font></font></p></td>
 <td colspan=2 nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,487,952 </font></font></p></td>
 <td nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,522,465 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.01.04</font></font></p></td>
 <td nowrap width=45% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Inventories</font></font></p></td>
 <td colspan=2 nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,856,384 </font></font></p></td>
 <td nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,160,985 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.01.08</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other current assets</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,281,692 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">722,920 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Non-current assets</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">34,134,558 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">34,000,497 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.01</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Long-term receivables</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,587,176 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,636,608 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.01.02</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Investments measured at amortized cost</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">32,539 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">30,756 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.01.06</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Deferred taxes</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,354,960 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,770,527 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.01.09</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other non-current assets</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,199,677 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,835,325 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.02</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Investments</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">13,204,192 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">13,487,023 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.03</font></font></p></td>
 <td nowrap width=45% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Property, plant and equipment</font></font></p></td>
 <td colspan=2 nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">15,341,609 </font></font></p></td>
 <td nowrap width=18% style="height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">14,911,426 </font></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td colspan=2 nowrap width=19% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">1.02.04</font></font></p></td>
 <td nowrap width=45% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Intangible assets</font></font></p></td>
 <td colspan=2 nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,001,581 </font></font></p></td>
 <td nowrap width=18% style="background:white;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">965,440 </font></font></p></td>
 </tr>
<tr>
  <td width=16%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=45%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=18%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">11</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name=page_13></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004212.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.85pt;">
  <td colspan=3 nowrap width=77% style="height:15.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Consolidated Financial Statements / Balance Sheet - Liabilities</font></b></font></p></td>
 <td nowrap width=23% style="height:15.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:15.85pt;">
  <td colspan=2 nowrap width=58% style="height:15.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap valign=bottom width=19% style="height:15.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:15.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:51.4pt;">
  <td nowrap width=19% style="border-bottom:windowtext 1pt solid;height:51.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font style="font-size:10pt;">Code</font></i></b></font></p></td>
 <td nowrap width=39% style="border-bottom:windowtext 1pt solid;height:51.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font style="font-size:10pt;">Description</font></i></b></font></p></td>
 <td valign=bottom width=19% style="border-bottom:windowtext 1pt solid;height:51.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Current Quarter<br>9/30/2014</font></b></font></p></td>
 <td valign=bottom width=23% style="border-bottom:windowtext 1pt solid;height:51.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Previous Year <br>12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">2 </font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Total liabilities </font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">49,731,948 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">50,402,539 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">2.01</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Current liabilities</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">7,155,426 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,564,230 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.01</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Payroll and related taxes</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">253,595 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">208,921 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.02</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade payables</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,469,748 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,102,037 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.03</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Taxes payable</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">289,221 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">304,095 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.04</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Borrowings and financing</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,657,719 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,642,807 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.05</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other payables</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">974,061 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">972,851 </font></font></p></td>
 </tr>
<tr style="height:13.6pt;">
  <td nowrap valign=bottom width=19% style="height:13.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.06</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:13.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Provisions</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:13.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">511,082 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:13.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">333,519 </font></font></p></td>
 </tr>
<tr style="height:13.6pt;">
  <td nowrap valign=bottom width=19% style="height:13.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.01.06.01</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:13.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for tax, social security, labor and civil risks</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:13.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">511,082 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:13.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">333,519 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Non-current liabilities</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">36,654,387 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">36,769,250 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.01</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Borrowings and financing</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">25,061,112 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">25,103,623 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.02</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other payables</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">10,435,163 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">10,061,571 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.03</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Deferred taxes</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">237,707 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">268,833 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Provisions</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">920,405 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,335,223 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.01</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for tax, social security, labor and civil risks</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">199,139 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">479,664 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.02</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other provisions</font></font></p></td>
 <td nowrap width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">721,266 </font></font></p></td>
 <td nowrap width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">855,559 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.02.03</font></font></p></td>
 <td nowrap valign=bottom width=39% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for environmental liabilities and asset retirement obligation - ARO</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">236,161 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">370,454 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.02.04.02.04</font></font></p></td>
 <td nowrap valign=bottom width=39% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Pension and healthcare plan</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">485,105 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">485,105 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Shareholders&#8217; equity</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,922,135 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">8,069,059 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.01</font></font></p></td>
 <td nowrap valign=bottom width=39% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Issued capital</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,540,000 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,540,000 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.02</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Capital reserves</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">30 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">30 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.04</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Earnings reserves</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,668,280 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,839,568 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.04.01</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Legal reserve</font></font></p></td>
 <td nowrap valign=bottom width=19% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">361,641 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">361,641 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.04.02</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Statutory reserve</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,373,309 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,477,927 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.04.09</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Treasury shares</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-66,670</font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=Arial><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.05</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Retained earnings/Accumulated losses</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font face=Arial><font style="font-size:10pt;">0</font></font><font style="font-size:10pt;"> </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.08</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other comprehensive income</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-152,470</font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">716,972 </font></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">2.03.09</font></font></p></td>
 <td nowrap valign=bottom width=39% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Non-controlling interests</font></font></p></td>
 <td nowrap valign=bottom width=19% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">39,351 </font></font></p></td>
 <td nowrap valign=bottom width=23% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-27,511</font></font></p></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">12</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name=page_14></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004300.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=4 nowrap width=54% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Consolidated Financial Statements / Statements of Income </font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=16% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 valign=top width=15% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:15.75pt;">
  <td colspan=2 nowrap width=39% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=15% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=16% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 valign=top width=15% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:17.5pt;">
  <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=29% style="border-bottom:windowtext 1pt solid;height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 width=15% style="border-bottom:windowtext 1pt solid;height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 width=16% style="border-bottom:windowtext 1pt solid;height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Current Quarter</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">7/1/2014 to 9/30/2014</font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Current Year</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">1/1/2014 to 9/30/2014</font></b></font></p></td>
 <td colspan=2 valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Same Quarter of</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Previous Year 7/1/2013 to 9/30/2013</font></b></font></p></td>
 <td colspan=2 valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Previous </font></b></font><font face=arial,sans-serif><b><font style="font-size:9pt;">Year</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">1/1/2013 to 9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:4.85pt;">
  <td nowrap valign=bottom width=10% style="height:4.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.01</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:4.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net revenue from sales and/or services </font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:4.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,882,986</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:4.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,306,271</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:4.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,661,416</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:4.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,363,601</font></font></p></td>
 </tr>
<tr style="height:11.4pt;">
  <td nowrap valign=bottom width=10% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.02</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cost of sales and/or services </font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,911,961</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-8,693,082</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-3,259,211</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-9,131,010</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.03</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Gross profit</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">971,025</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,613,189</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,402,205</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,232,591</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04</font></font></p></td>
 <td nowrap valign=bottom width=29% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Operating expenses/income</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-244,156</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,216,581</font></font></p></td>
 <td colspan=2 valign=top width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-238,753</font></font></p></td>
 <td colspan=2 valign=top width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-869,689</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.01</font></font></p></td>
 <td nowrap valign=bottom width=29% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Selling expenses</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-268,052</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-691,619</font></font></p></td>
 <td colspan=2 valign=top width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-208,791</font></font></p></td>
 <td colspan=2 valign=top width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-666,415</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.02</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">General and administrative expenses</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-110,470</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-338,494</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-105,862</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-338,909</font></font></p></td>
 </tr>
<tr style="height:6.6pt;">
  <td nowrap valign=bottom width=10% style="height:6.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.04</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:6.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other operating income</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:6.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">27,471</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:6.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">44,937</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:6.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">10,083</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:6.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">35,289</font></font></p></td>
 </tr>
<tr style="height:4.75pt;">
  <td nowrap valign=bottom width=10% style="height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.05</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other operating expenses</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-90,686</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-316,094</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-142,641</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-407,392</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.04.06</font></font></p></td>
 <td nowrap valign=bottom width=29% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Share of profits of investees</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">197,581</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">84,689</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">208,458</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">507,738</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=10% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.05</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Profit before finance income (costs) and taxes</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">726,869</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,396,608</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,163,452</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,362,902</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance income (costs)</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-944,459</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,500,593</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-597,118</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,582,220</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06.01</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance income</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">42,735</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">134,217</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">59,280</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">157,382</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06.02</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance costs</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-987,194</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,634,810</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-656,398</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,739,602</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06.02.01</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net exchange gains (losses) on financial instruments</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-77,250</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-193,453</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,844</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">39,681</font></font></p></td>
 </tr>
<tr style="height:12.4pt;">
  <td nowrap valign=bottom width=10% style="height:12.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.06.02.02</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance costs</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-909,944</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,441,357</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-661,242</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,779,283</font></font></p></td>
 </tr>
<tr style="height:6.25pt;">
  <td nowrap valign=bottom width=10% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.07</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Loss (profit) before taxes on income</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-217,590</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-103,985</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">566,334</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">780,682</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.08</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Income tax and social contribution </font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-32,798</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-75,274</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-63,446</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">240,408</font></font></p></td>
 </tr>
<tr style="height:5.1pt;">
  <td nowrap valign=bottom width=10% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.09</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Profit from continuing operations </font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-250,388</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-179,259</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">502,888</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,090</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.11</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Consolidated Profit and Loss</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-250,388</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-179,259</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">502,888</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,090</font></font></p></td>
 </tr>
<tr style="height:6.9pt;">
  <td nowrap valign=bottom width=10% style="height:6.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.11.01</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:6.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Attributed to owners of the Company</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:6.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-250,105</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:6.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:6.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">499,682</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:6.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,477</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.11.02</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Attributed to non-controlling interests</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-283</font></font></p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,203</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,206</font></font></p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-387</font></font></p></td>
 </tr>
<tr style="height:9.4pt;">
  <td nowrap valign=bottom width=10% style="height:9.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:9.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Earnings per share - (R$/share)</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:9.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:9.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="height:9.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="height:9.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99.01</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Basic earnings per share</font></font></p></td>
 <td colspan=2 nowrap valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=top width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:7.6pt;">
  <td nowrap valign=bottom width=10% style="height:7.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99.01.01</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=34% style="height:7.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Common shares</font></font></p></td>
 <td align=center nowrap valign=top width=10% style="height:7.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">-0.18008</font></font></p></td>
 <td align=center nowrap valign=top width=4%>&nbsp;</td>
 <td align=center nowrap valign=top width=12% style="height:7.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">-0.12105</font></font></p></td>
 <td align=center nowrap valign=top width=2%>&nbsp;</td>
 <td align=center valign=top width=13% style="height:7.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">0.34272</font></font></p></td>
 <td align=center valign=top width=2%>&nbsp;</td>
 <td align=center valign=top width=13% style="height:7.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">0.70062</font></font></p></td>
 </tr>
<tr style="height:5.6pt;">
  <td nowrap valign=bottom width=10% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99.02</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Diluted earnings per share</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=15% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=16% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=bottom width=15% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 valign=bottom width=15% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=10% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">3.99.02.01</font></font></p></td>
 <td nowrap valign=bottom width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Common shares</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-0.18008</font></font></p></td>
 <td align=right colspan=2 nowrap valign=bottom width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">-0.12105</font></font></p></td>
 <td align=right colspan=2 valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">0.34272</font></font></p></td>
 <td colspan=2 valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0.70062</font></font></p></td>
 </tr>
<tr>
  <td width=10%>&nbsp;</td>
 <td width=29%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=10%>&nbsp;</td>
 <td width=4%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 </tr>
</table></div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">13</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_16"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004301.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=4 nowrap width=71% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Consolidated Financial Statements / Statement of Comprehensive Income</font></b></font></p></td>
 <td valign=top width=14% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=top width=15% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:15.75pt;">
  <td colspan=2 nowrap width=43% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap width=14% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=14% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=15% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:24pt;">
  <td valign=bottom width=8% style="border-bottom:windowtext 1pt solid;height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td valign=bottom width=35% style="border-bottom:windowtext 1pt solid;height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Current Quarter<br>7/1/2014 to 9/30/2014</font></b></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">&nbsp;Current Year<br>1/1/2014 to 9/30/2014</font></b></font></p></td>
 <td valign=top width=14% style="border-bottom:windowtext 1pt solid;height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Same Quarter of</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Previous Year </font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">7/1/2013 to 9/30/2013</font></b></font></p></td>
 <td valign=top width=15% style="border-bottom:windowtext 1pt solid;height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Previous</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Year</font></b></font></p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">1/1/2013 to 9/30/2</font></b></font><font face=arial,sans-serif><b><font style="font-size:9pt;">013</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.01</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Consolidated profit for the period</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-250,388</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-179,259</font></font></p></td>
 <td valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">502,888</font></font></p></td>
 <td valign=top width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,090</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other comprehensive income</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-98,799</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-869,442</font></font></p></td>
 <td valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">399,378</font></font></p></td>
 <td valign=top width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-171,048</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.01</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cumulative translation adjustments for the period</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">60,745</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-26,602</font></font></p></td>
 <td valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">47,884</font></font></p></td>
 <td valign=top width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">128,932</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.02</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Actuarial (losses) gains on defined benefit pension plan from investments in</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,710</font></font></p></td>
 <td valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=top width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">subsidiaries</font></font></p></td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=top width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.03</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-151,034</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,241,037</font></font></p></td>
 <td valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">532,567</font></font></p></td>
 <td valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-459,517</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.04</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Income tax and social contribution on available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">51,351</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">421,952</font></font></p></td>
 <td valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-181,073</font></font></p></td>
 <td valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">156,236</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.05</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Impairment of available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">19,989</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">72,104</font></font></p></td>
 <td valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,002</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.06</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Income tax and social contribution on available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,796</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-24,515</font></font></p></td>
 <td valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,701</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.02.07</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">(Loss)/gain on the percentage variation of investments</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-73,054</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-73,054</font></font></p></td>
 <td valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.03</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Consolidated comprehensive income for the period</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-349,187</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,048,701</font></font></p></td>
 <td valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">902,266</font></font></p></td>
 <td valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">850,042</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.03.01</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Attributed to owners of the Company</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-348,904</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,042,498</font></font></p></td>
 <td valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">899,060</font></font></p></td>
 <td valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">850,429</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=8% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">4.03.02</font></font></p></td>
 <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Attributed to non-controlling interests</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-283</font></font></p></td>
 <td nowrap valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,203</font></font></p></td>
 <td valign=top width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,206</font></font></p></td>
 <td valign=top width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-387</font></font></p></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">14</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_17"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004302.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td colspan=4 nowrap width=100% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Consolidated Financial Statements / Statement of Cash Flows &#8211; Indirect Method</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td colspan=2 nowrap width=53% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:27.65pt;">
  <td valign=bottom width=11% style="border-bottom:windowtext 1pt solid;height:27.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td valign=bottom width=42% style="border-bottom:windowtext 1pt solid;height:27.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td valign=bottom width=23% style="border-bottom:windowtext 1pt solid;height:27.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Current Year<br>01/01/2014 to 9/30/2014</font></b></font></p></td>
 <td valign=bottom width=24% style="border-bottom:windowtext 1pt solid;height:27.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt 3.6pt;text-align:right;text-indent:-3.6pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Previous Year<br>01/01/2013 to 9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:5.75pt;">
  <td nowrap valign=bottom width=11% style="height:5.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:5.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net cash generated by operating activities</font></font></p></td>
 <td nowrap valign=top width=23% style="height:5.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">600,432</font></font></p></td>
 <td nowrap valign=top width=24% style="height:5.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,401,537</font></font></p></td>
 </tr>
<tr style="height:8.6pt;">
  <td nowrap valign=bottom width=11% style="height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cash generated from operations</font></font></p></td>
 <td nowrap valign=top width=23% style="height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,644,889</font></font></p></td>
 <td nowrap valign=top width=24% style="height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,765,285</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Profit for the period attributable to owners of the Company</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,477</font></font></p></td>
 </tr>
<tr style="height:16.3pt;">
  <td nowrap valign=bottom width=11% style="height:16.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:16.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Profit (loss) for the period attributable to non-controlling interests</font></font></p></td>
 <td nowrap valign=top width=23% style="height:16.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,203</font></font></p></td>
 <td nowrap valign=top width=24% style="height:16.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-387</font></font></p></td>
 </tr>
<tr style="height:4.1pt;">
  <td nowrap valign=bottom width=11% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.03</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Charges on borrowings and financing</font></font></p></td>
 <td nowrap valign=top width=23% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,056,128</font></font></p></td>
 <td nowrap valign=top width=24% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,597,890</font></font></p></td>
 </tr>
<tr style="height:10.3pt;">
  <td nowrap valign=bottom width=11% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.04</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Charges on loans and financing granted</font></font></p></td>
 <td nowrap valign=top width=23% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-30,671</font></font></p></td>
 <td nowrap valign=top width=24% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-33,593</font></font></p></td>
 </tr>
<tr style="height:5.4pt;">
  <td nowrap valign=bottom width=11% style="height:5.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.05</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:5.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Depreciation, depletion and amortization</font></font></p></td>
 <td nowrap valign=top width=23% style="height:5.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">934,555</font></font></p></td>
 <td nowrap valign=top width=24% style="height:5.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">868,884</font></font></p></td>
 </tr>
<tr style="height:8.4pt;">
  <td nowrap valign=bottom width=11% style="height:8.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.06</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:8.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Share of profits of investees</font></font></p></td>
 <td nowrap valign=top width=23% style="height:8.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-84,689</font></font></p></td>
 <td nowrap valign=top width=24% style="height:8.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-507,738</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.07</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Deferred income tax and social contribution</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-332,332</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-527,544</font></font></p></td>
 </tr>
<tr style="height:17.5pt;">
  <td nowrap valign=bottom width=11% style="height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.08</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Provision for tax, social security, labor, civil and environmental risks</font></font></p></td>
 <td nowrap valign=top width=23% style="height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-42,306</font></font></p></td>
 <td nowrap valign=top width=24% style="height:17.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">49,430</font></font></p></td>
 </tr>
<tr style="height:4.1pt;">
  <td nowrap valign=bottom width=11% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.09</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Monetary variation and exchange differences, net</font></font></p></td>
 <td nowrap valign=top width=23% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">185,777</font></font></p></td>
 <td nowrap valign=top width=24% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,272,140</font></font></p></td>
 </tr>
<tr style="height:6.45pt;">
  <td nowrap valign=bottom width=11% style="height:6.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.10</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:6.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Gain (loss) on derivative transactions</font></font></p></td>
 <td nowrap valign=top width=23% style="height:6.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,395</font></font></p></td>
 <td nowrap valign=top width=24% style="height:6.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">18,693</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.11</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Impairment of available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">72,104</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,002</font></font></p></td>
 </tr>
<tr style="height:4.1pt;">
  <td nowrap valign=bottom width=11% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.16</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Residual value of permanent assets written off</font></font></p></td>
 <td nowrap valign=top width=23% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">12,935</font></font></p></td>
 <td nowrap valign=top width=24% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">26,805</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.01.17</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other provisions</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">51,252</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-25,774</font></font></p></td>
 </tr>
<tr style="height:7.2pt;">
  <td nowrap valign=bottom width=11% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Changes in assets and liabilities</font></font></p></td>
 <td nowrap valign=top width=23% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,044,457</font></font></p></td>
 <td nowrap valign=top width=24% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,363,748</font></font></p></td>
 </tr>
<tr style="height:8.85pt;">
  <td nowrap valign=bottom width=11% style="height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade receivables - third parties</font></font></p></td>
 <td nowrap valign=top width=23% style="height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">315,486</font></font></p></td>
 <td nowrap valign=top width=24% style="height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-213,722</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade receivables - related parties</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-145,262</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-26,814</font></font></p></td>
 </tr>
<tr style="height:7.15pt;">
  <td nowrap valign=bottom width=11% style="height:7.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.03</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:7.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Inventories</font></font></p></td>
 <td nowrap valign=top width=23% style="height:7.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-769,929</font></font></p></td>
 <td nowrap valign=top width=24% style="height:7.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">20,856</font></font></p></td>
 </tr>
<tr style="height:7.2pt;">
  <td nowrap valign=bottom width=11% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.04</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Receivables from related parties</font></font></p></td>
 <td nowrap valign=top width=23% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,963</font></font></p></td>
 <td nowrap valign=top width=24% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-29,758</font></font></p></td>
 </tr>
<tr style="height:9.55pt;">
  <td nowrap valign=bottom width=11% style="height:9.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.05</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:9.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Recoverable taxes</font></font></p></td>
 <td nowrap valign=top width=23% style="height:9.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">47,995</font></font></p></td>
 <td nowrap valign=top width=24% style="height:9.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">27,095</font></font></p></td>
 </tr>
<tr style="height:8.15pt;">
  <td nowrap valign=bottom width=11% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.06</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Judicial deposits</font></font></p></td>
 <td nowrap valign=top width=23% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-34,323</font></font></p></td>
 <td nowrap valign=top width=24% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">14,132</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.07</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Dividends received from related parties</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">232,383</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">268,470</font></font></p></td>
 </tr>
<tr style="height:4.9pt;">
  <td nowrap valign=bottom width=11% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.08</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Trade payables</font></font></p></td>
 <td nowrap valign=top width=23% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">408,619</font></font></p></td>
 <td nowrap valign=top width=24% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-771,473</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.09</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Payroll and related taxes</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">27,527</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">105,464</font></font></p></td>
 </tr>
<tr style="height:8.1pt;">
  <td nowrap valign=bottom width=11% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.10</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Taxes in installments - REFIS</font></font></p></td>
 <td nowrap valign=top width=23% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-43,397</font></font></p></td>
 <td nowrap valign=top width=24% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">38,181</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.12</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Payables to related parties</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,600</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-3,173</font></font></p></td>
 </tr>
<tr style="height:7.25pt;">
  <td nowrap valign=bottom width=11% style="height:7.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.14</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:7.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest paid</font></font></p></td>
 <td nowrap valign=top width=23% style="height:7.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-2,103,382</font></font></p></td>
 <td nowrap valign=top width=24% style="height:7.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,772,921</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.15</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest received - related parties</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">13,595</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">20,393</font></font></p></td>
 </tr>
<tr style="height:9.8pt;">
  <td nowrap valign=bottom width=11% style="height:9.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.16</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:9.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest on swaps paid</font></font></p></td>
 <td nowrap valign=top width=23% style="height:9.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,279</font></font></p></td>
 <td nowrap valign=top width=24% style="height:9.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-3,434</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.01.02.17</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,947</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-37,044</font></font></p></td>
 </tr>
<tr style="height:5.8pt;">
  <td nowrap valign=bottom width=11% style="height:5.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:5.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net cash used in investing activities</font></font></p></td>
 <td nowrap valign=top width=23% style="height:5.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,239,860</font></font></p></td>
 <td nowrap valign=top width=24% style="height:5.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,446,979</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Investments</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-8,376</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr style="height:9pt;">
  <td nowrap valign=bottom width=11% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.03</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Purchase of property, plant and equipment</font></font></p></td>
 <td nowrap valign=top width=23% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,292,180</font></font></p></td>
 <td nowrap valign=top width=24% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,749,615</font></font></p></td>
 </tr>
<tr style="height:7.5pt;">
  <td nowrap valign=bottom width=11% style="height:7.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.09</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:7.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Receipt/payment in derivative transactions</font></font></p></td>
 <td nowrap valign=top width=23% style="height:7.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-73,670</font></font></p></td>
 <td nowrap valign=top width=24% style="height:7.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">332,655</font></font></p></td>
 </tr>
<tr style="height:4.1pt;">
  <td nowrap valign=bottom width=11% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.10</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Purchase of intangible assets</font></font></p></td>
 <td nowrap valign=top width=23% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-610</font></font></p></td>
 <td nowrap valign=top width=24% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-70</font></font></p></td>
 </tr>
<tr style="height:5.7pt;">
  <td nowrap valign=bottom width=11% style="height:5.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.11</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:5.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Related parties loans</font></font></p></td>
 <td nowrap valign=top width=23% style="height:5.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-31,506</font></font></p></td>
 <td nowrap valign=top width=24% style="height:5.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-301</font></font></p></td>
 </tr>
<tr style="height:8.15pt;">
  <td nowrap valign=bottom width=11% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.12</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Receipt of related parties loans</font></font></p></td>
 <td nowrap valign=top width=23% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">168,265</font></font></p></td>
 <td nowrap valign=top width=24% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr style="height:4.1pt;">
  <td nowrap valign=bottom width=11% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.02.13</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Investment, net of redeemed amount</font></font></p></td>
 <td nowrap valign=top width=23% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,783</font></font></p></td>
 <td nowrap valign=top width=24% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-29,648</font></font></p></td>
 </tr>
<tr style="height:6.25pt;">
  <td nowrap valign=bottom width=11% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Net cash used in financing activities</font></font></p></td>
 <td nowrap valign=top width=23% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-771,732</font></font></p></td>
 <td nowrap valign=top width=24% style="height:6.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-411,840</font></font></p></td>
 </tr>
<tr style="height:5.6pt;">
  <td nowrap valign=bottom width=11% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Borrowings and financing raised</font></font></p></td>
 <td nowrap valign=top width=23% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,630,664</font></font></p></td>
 <td nowrap valign=top width=24% style="height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,228,957</font></font></p></td>
 </tr>
<tr style="height:7.2pt;">
  <td nowrap valign=bottom width=11% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Repayment of borrowings</font></font></p></td>
 <td nowrap valign=top width=23% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,175,234</font></font></p></td>
 <td nowrap valign=top width=24% style="height:7.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-489,485</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.04</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Dividends and interest on capital paid</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-424,935</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,156,736</font></font></p></td>
 </tr>
<tr style="height:18.15pt;">
  <td nowrap valign=bottom width=11% style="height:18.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.05</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:18.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Capital contribution by non-controlling shareholders</font></font></p></td>
 <td nowrap valign=top width=23% style="height:18.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=24% style="height:18.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,424</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=11% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.06</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Treasury shares</font></font></p></td>
 <td nowrap valign=top width=23% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-746,288</font></font></p></td>
 <td nowrap valign=top width=24% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.03.07</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Repurchase of debt securities</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-55,939</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.04</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Exchange differences on translating cash and cash equivalents</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">386,850</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-287,664</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.05</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Increase (decrease) in cash and cash equivalents</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,024,310</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-744,946</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.05.01</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cash and equivalents at the beginning of the period</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">9,995,672</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">11,891,821</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">6.05.02</font></font></p></td>
 <td nowrap valign=bottom width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Cash and equivalents at the end of the period</font></font></p></td>
 <td nowrap valign=top width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">8,971,362</font></font></p></td>
 <td nowrap valign=top width=24% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">11,146,875</font></font></p></td>
 </tr>
</table></div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">15</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=right><B></B>&nbsp;</H2></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 10pt">Consolidated Financial Statements / Statement of Changes in Shareholders&#180; Equity - 1/1/2014 to 9/30/2014</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" width="28%" colSpan=2 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 10pt" lang=PT-BR>(R$ thousand)</FONT></B></FONT></P></TD>

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

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

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

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

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

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Code</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Description</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Paid-in capital </FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt">Capital reserve, granted options and treasury shares</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Earnings reserve </FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Retained earnings/</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>(accumulated losses) </FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Other comprehensive income</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Shareholders&#180; Equity</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Non-controlling interests</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=PT-BR>Consolidated shareholders' equity</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.01</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Opening balances</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>4,540,000</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>30</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>2,839,568</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>716,972</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>8,096,570</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-27,511</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>8,069,059</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.03</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Adjusted opening balances</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>4,540,000</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>30</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>2,839,568</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>716,972</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>8,096,570</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-27,511</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>8,069,059</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.04</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Capital transactions with shareholders</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-1,171,288</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-1,171,288</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-1,171,288</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.04.04</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Treasury shares acquired</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-746,288</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-746,288</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-746,288</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.04.06</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Dividends</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-425,000</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-425,000</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-425,000</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.04.08</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Cancelled of treasury shares</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>679,618</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>679,618</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>679,618</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.04.09</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Cancelled of treasury shares</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-679,618</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-679,618</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-679,618</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.05</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Total comprehensive income</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-173,056</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-869,442</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-1,042,498</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-6,203</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-1,048,701</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.05.01</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Profit for the period</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-173,056</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-173,056</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-6,203</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-179,259</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.05.02</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Other comprehensive income</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-869,442</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-869,442</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-869,442</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.05.02.04</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt">Cumulative translation adjustments for the period</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-26,602</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-26,602</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-26,602</FONT></FONT></P></TD></TR>

<TR></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.05.02.08</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt">Actuarial (losses) gains on defined benefit pension plan, net of taxes</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>1,710</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>1,710</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>1,710</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.05.02.09</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt">Available-for-sale financial assets, net of taxes</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-771,496</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-771,496</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-771,496</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.05.02.10</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt">Loss/gain on the percentage variation of investments</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-73,054</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-73,054</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-73,054</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.06</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt">Internal changes in shareholders&#180;equity</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>73,065</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>73,065</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.06.04</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt">Non-controlling interest in subsidiaries </FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>0</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>73,065</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>73,065</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5.07</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>Closing balances</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>4,540,000</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>30</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>1,668,280</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-173,056</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>-152,470</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5,882,784</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>39,351</FONT></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR>5,922,135</FONT></FONT></P></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></DIV>

<DIV align=left>&nbsp;</DIV>

<DIV>

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<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">&nbsp;</P></DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>PAGE </FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>16</FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR> of 83</FONT></FONT></P>

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<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">&nbsp;</P></DIV></DIV></DIV>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004304.jpg" width=118></td>
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  <td>&nbsp;</td>
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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td colspan=10 nowrap width=100% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Consolidated Financial Statements / Statement of Changes in Shareholders&#180; Equity - 1/1/2013 to 9/30/2013</font></b></font></p></td>
 </tr>
<tr>
  <td colspan=2 nowrap width=28% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:10pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
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 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
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 </tr>
<tr>
  <td valign=bottom width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Code</font></b></font></p></td>
 <td valign=bottom width=21% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Description</font></b></font></p></td>
 <td valign=bottom width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Paid-in capital </font></b></font></p></td>
 <td valign=bottom width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Capital reserve, granted options and treasury shares</font></b></font></p></td>
 <td valign=bottom width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Earnings reserve </font></b></font></p></td>
 <td valign=bottom width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Retained earnings/</font></b></font></p>

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">(accumulated losses) </font></b></font></p></td>
 <td valign=bottom width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Other comprehensive income</font></b></font></p></td>
 <td valign=bottom width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Shareholders&#180; Equity</font></b></font></p></td>
 <td valign=bottom width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Non-controlling interests</font></b></font></p></td>
 <td valign=bottom width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:9pt;">Consolidated shareholders' equity</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.01</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Opening balances</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">4,540,000</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">3,690,543</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">386,324</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">8,616,897</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">390,616</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">9,007,513</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.03</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Adjusted opening balances</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">4,540,000</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">3,690,543</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">386,324</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">8,616,897</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">390,616</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">9,007,513</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.04</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Capital transactions with shareholders</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-560,000</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-400,026</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-960,026</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-960,026</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.04.06</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Dividends</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-210,000</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-210,000</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-210,000</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.04.07</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest on capital</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-190,026</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-190,026</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-190,026</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.04.11</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Approval of additional dividends at Annual General Meeting</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-560,000</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-560,000</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-560,000</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Total comprehensive income</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">1,021,477</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-171,048</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">850,429</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-387</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">850,042</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05.01</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Profit for the period</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">1,021,477</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">1,021,477</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-387</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">1,021,090</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05.02</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Other comprehensive income</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-171,048</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-171,048</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-171,048</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05.02.04</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Cumulative translation adjustments for the period</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">128,932</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">128,932</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">128,932</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.05.02.08</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Available-for-sale financial assets, net of taxes</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-299,980</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-299,980</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">-299,980</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.06</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Internal changes in shareholders' equity</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">9,585</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">9,585</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.06.04</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Non-controlling interests in subsidiaries</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">0 </font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">9,585</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">9,585</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=7% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">5.07</font></font></p></td>
 <td nowrap valign=bottom width=21% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">Closing balances</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">4,540,000</font></font></p></td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">30</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">3,130,543</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">621,451</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">215,276</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">8,507,300</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">399,814</font></font></p></td>
 <td nowrap valign=top width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:10pt;">8,907,114</font></font></p></td>
 </tr>
</table></div>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<div align=left>&nbsp;</div>

<div>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">17</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_20"></a>

<div style="padding-left:0%;padding-right:0%;">

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004305.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.4pt;">
  <td colspan=4 nowrap width=100% style="height:15.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;">Consolidated Financial Statements / Statement of Value Added </font></b></font></p></td>
 </tr>
<tr style="height:15.4pt;">
  <td colspan=2 nowrap width=59% style="height:15.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:12pt;">(R$ thousand)</font></b></font></p></td>
 <td nowrap width=20% style="height:15.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=21% style="height:15.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11pt;">
  <td nowrap width=13% style="height:11pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=46% style="height:11pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=20% style="height:11pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=21% style="height:11pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:24.9pt;">
  <td valign=bottom width=13% style="border-bottom:windowtext 1pt solid;height:24.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Code</font></b></font></p></td>
 <td valign=bottom width=46% style="border-bottom:windowtext 1pt solid;height:24.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Description</font></b></font></p></td>
 <td valign=bottom width=20% style="height:24.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Current year<br>1/1/2014 to 9/30/2014</font></b></font></p></td>
 <td valign=bottom width=21% style="height:24.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:10pt;">Previous year<br>1/1/2013 to 9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Revenues</font></font></p></td>
 <td nowrap valign=top width=20% style="border-top:windowtext 1pt solid;height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">14,684,931</font></font></p></td>
 <td nowrap valign=top width=21% style="border-top:windowtext 1pt solid;height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">14,859,753</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.01.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Sales of products and services</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">14,643,220</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">14,797,947</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.01.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other revenues</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">52,594</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">60,159</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.01.04</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Allowance for (reversal of) doubtful debts</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-10,883</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,647</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Raw materials acquired from third parties</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-9,030,859</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-9,705,748</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.02.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Costs of sales and services</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-7,729,543</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-8,390,767</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.02.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Materials, electric power, outside services and other</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,222,881</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-1,344,612</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.02.03</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Impairment/recovery of assets</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-78,435</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">29,631</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.03</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Gross value added</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,654,072</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,154,005</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.04</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Retentions</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-934,555</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-868,884</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.04.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Depreciation, amortization and depletion</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-934,555</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-868,884</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.05</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Wealth created</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,719,517</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">4,285,121</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.06</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Value added received as transfer</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">970,429</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,659,610</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.06.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Share of profits of investees</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">84,689</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">507,738</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.06.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Finance income</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">134,217</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">157,382</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.06.03</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">751,523</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,994,490</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.07</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Wealth for distribution</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,689,946</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">6,944,731</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Wealth distributed</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">5,689,946</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">6,944,731</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Personnel</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,270,926</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,091,666</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.01.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Salaries and wages</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,007,607</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">876,460</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.01.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Benefits</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">202,041</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">162,038</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.01.03</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Severance pay fund (FGTS) </font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">61,278</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">53,168</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Taxes, fees and contributions</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,220,251</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,087,961</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.02.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Federal</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,012,091</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">771,974</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.02.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">State</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">180,115</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">290,865</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.02.03</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Municipal</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">28,045</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">25,122</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.03</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Lenders and lessors </font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,378,028</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">3,744,014</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.03.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Interest</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">2,391,954</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,779,545</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.03.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Leases</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">11,397</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">11,512</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.03.03</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Other</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">974,677</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,952,957</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">Shareholders</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-179,259</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">1,021,090</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04.01</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Interest on equity capital</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">190,026</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04.02</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Dividends</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">0</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">210,000</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04.03</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Retained earnings (accumulated losses) for the period</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-173,056</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">621,451</font></font></p></td>
 </tr>
<tr style="height:16.6pt;">
  <td nowrap valign=bottom width=13% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:10pt;">7.08.04.04</font></font></p></td>
 <td nowrap valign=bottom width=46% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Non-controlling interests in retained earnings</font></font></p></td>
 <td nowrap valign=top width=20% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-6,203</font></font></p></td>
 <td nowrap valign=top width=21% style="height:16.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:10pt;">-387</font></font></p></td>
 </tr>
</table></div>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">18</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

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<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:10pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Economic Scenario</font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The recovery of global economic activity has been occurring at a moderate pace and on heterogeneous way. While among the developed countries, the United States and the United Kingdom have been recording growth, the slower-than-expected recovery in the Eurozone and the less optimistic prospects for certain emerging economies have contributed to more conservative revisions of global growth. The International Monetary Fund (IMF) reduced the global growth projections to 3.3% in 2014 and 3.8% in 2015.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:10pt;">USA</font></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The latest figures from the U.S. Department of Commerce and the FED indicate an upturn in domestic economic activity.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In 3Q14, the U.S. economy recorded growth of 3.5%, reflecting the good performance of exports, investments and consumption, as well as the increase in government spending.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In September, industrial production increased by 1.0% over August, giving 12-month growth of 4.3%, and installed capacity use remained at 79% throughout the year.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Manufacturing PMI averaged 57.6 points in 3Q14, 2.4 points above the average in the previous quarter and continuing the expansion that began in June 2013. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In September 2014, the unemployment rate reached 5.9%, the lowest level for the last six years, giving a year-to-date decline of 1.3 p.p. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">At its last meeting in October, the FED's Monetary Policy Committee (FOMC) announced the end of the securities purchase program, designed to stimulate the economy, maintaining interest rates at between 0 and 0.25%. The Committee considered it appropriate to maintain interest at this level for a considerable period of time, especially in a scenario of inflation lower than the 2% target. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">As a result, the FED estimates GDP growth of between 2.0% and 2.2% in 2014. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:10pt;">Europe</font></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The European recovery continues at a slower pace.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">After four quarters of moderate expansion, 2Q14 GDP in the Eurozone remained virtually flat.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Industrial output fell by 1.8% in August over July, chiefly reflecting the 4.8% reduction in capital goods production, while the manufacturing PMI declined from 52.8 points in June to 52.0 points in September, the lowest figure in the last ten months. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Eurozone unemployment rate remained stable, but still high, recording 11.5% in September. Austria and Germany recorded the lowest rates among the countries, while Greece and Spain had the highest. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Eurozone inflation came to 0.3% in the 12 months ended September 2014, well below the long-term goal of 2% established by the European Central Bank (ECB) and the lowest figure since October 2009. Certain countries such as Spain, Greece, Hungary and Bulgaria actually recorded negative inflation in the same period. In this context, the ECB implemented new measures to stimulate the economy, including the repurchase of securities, with a minimum duration of two years.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The institution expects a GDP growth of 0.9% in 2014 and 1.6% in 2015. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">UK GDP expanded for the seventh consecutive quarter, moving up by 0.7% in 3Q14, fueled by the service and construction sectors, which grew by 0.7% and 0.8%, respectively. The British Chamber of Commerce estimates annual GDP growth of 3.2% in 2014. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The labor market continues to improve, with unemployment between June and August 2014 declining by 6%, the lowest level since the end of 2008 and 0.4 p.p. less than in the previous three-month period from March to May. In the year through September, inflation fell to 1.2%, below the 1.5% recorded through August. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:10pt;">Asia</font></b></font><font color=black face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:10pt;"> </font></b></font></p>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Preliminary 3Q14 figures from the National Bureau of Statistics point to Chinese GDP growth of 7.3% over 3Q13, below the 7.5% recorded in 2Q14. In 9M14, the Chinese economy grew by 7.4% over 9M13, slightly below the 7.5% target established by the government.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In September 2014, the manufacturing PMI published by HSBC reached 50.2 points, continuing the expansion begun in June.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Industrial production increased by 8.0% in September, higher than the 6.9% registered in August.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In the first nine months, investments in fixed assets moved up by 16%, less than the 20% recorded in 9M13.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Manufacturing PMI also continued to expand in Japan, reaching 51.7 points in September.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Unemployment rate recorded 3.5% in August, the lowest rate since July 2007.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> At</font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> its last monetary policy meeting, the Central Bank of Japan (BoJ) increased the ceiling of the security buyback program from between 60 and 70 trillion yen, to 80 trillion yen per year, maintaining interest at 0.1%.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The BoJ&#8217;s long-term inflation target is 2% p.y.</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> and it is </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">projecting GDP growth of 1.0% in 2014.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:10pt;">Brazil</font></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In Brazil, the economic fundamentals remain unfavorable, with GDP declining by 0.6% in 2Q14, following the 0.2% slide in 1Q14 over 4Q13. The 2Q14 result was primarily due to the negative performance of the industrial (-1.5%) and service (-0.5%) sectors. September&#8217;s activity indicators, notably industrial production, suggest a further slowdown in the third quarter. Industrial output fell by 0.2% in September over August, largely due to the 1.6% reduction in the production of intermediate goods, giving a year-to-date downturn of 2.9%. The Central Bank&#8217;s Focus report expects GDP growth of 0.2% in 2014 and 0.8% in 2015.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">According to CAGED (the employment and unemployment registry), 80,000 new registered jobs were created in September, 41% down on the same month last year and the worst result since mid-2001. In the year through September, a net total of 905 thousand formal jobs were created. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Inflation recorded by the IPCA consumer price index moved up by 0.57% in September, giving year-to-date and last-12-month growth of 4.61% and 6.75%, respectively, exceeding the 6.5% ceiling of the annual inflation target. Given this scenario, at its last meeting in October, the Monetary Policy Committee (COPOM) raised the Selic base rate once again, this time to 11.25% p.a. The Focus report expects 2014 inflation of 6.39%, with a Selic of 11.50% at year-end.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">On the foreign exchange front, the real depreciated by 11.3% against the U.S. dollar in 3Q14, closing September at R$2.451/US$, reflecting greater risk aversion in the domestic market, coupled with international factors such as the end of the U.S. government&#8217;s security repurchase program and a possible increase in interest rates by the FED. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:10pt;">Macroeconomic Projections</font></b></font></p>

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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">2014</font></font></p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">2015</font></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">IPCA (%)</font></font></p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">6.39</font></font></p></td>
 <td width=21% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">6.40</font></font></p></td>
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  <td width=57% style="border-bottom:black 1pt solid;border-left:black 1pt solid;border-right:black 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Commercial dollar (final) &#8211; R$</font></font></p></td>
 <td width=22% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">2.50</font></font></p></td>
 <td width=21% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">2.60</font></font></p></td>
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  <td width=57% style="border-bottom:black 1pt solid;border-left:black 1pt solid;border-right:black 1pt solid;height:11.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">SELIC (final - %)</font></font></p></td>
 <td width=22% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:11.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">11.50</font></font></p></td>
 <td width=21% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:11.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">12.00</font></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">GDP (%)</font></font></p></td>
 <td width=22% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:12.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">0.20</font></font></p></td>
 <td width=21% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:12.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">0.80</font></font></p></td>
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  <td width=57% style="border-bottom:black 1pt solid;border-left:black 1pt solid;border-right:black 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Industrial Production (%)</font></font></p></td>
 <td width=22% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">-2.21</font></font></p></td>
 <td width=21% style="border-bottom:black 1pt solid;border-right:black 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">1.46</font></font></p></td>
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<p align=center style="margin:6pt 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:8pt;">Source:</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:8pt;"> </font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:8pt;">FOCUS BACEN</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:8pt;"> &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></font><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:8pt;">Base:</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:8pt;"> 11/07/2014</font></font></p>

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<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In the third quarter, consolidated net revenue totaled R$3,883 million, 4% down on the R$4,052 million recorded in 2Q14, chiefly influenced by the reduction in mining revenue, due to lower iron ore prices in the international market. </font></font></p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">20</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

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<div style="background:navy;border-bottom:windowtext 1pt solid;border-left:medium none;border-right:medium none;border-top:medium none;padding-bottom:1pt;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:8pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Cost of Goods Sold (COGS)</font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">COGS totaled R$2,912 million in 3Q14, 6% up on the R$2,747 million posted in 2Q14, basically due to a nominal increase in COGS from steel operations, given non-recurring adjustments booked in 2Q14.</font></font></p>

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<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:8pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Selling, General, Administrative and Other Operating Expenses</font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Consolidated SG&amp;A expenses totaled R$379 million in 3Q14, 6% more than the R$358 million reported in 2Q14, due to higher selling expenses.&nbsp; </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Other Operating Revenue/Expenses came to R$63 million in 3Q14, versus R$31 million in 2Q14, basically due to the write-off of judicial deposits. </font></font></p>

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<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:8pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">EBITDA</font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

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   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The Company uses Adjusted EBITDA to measure the segments' performance and operating cash flow capacity. It comprises net income before the net financial result, income and social contribution taxes, depreciation and amortization, results from investees and other operating revenue (expenses), plus the proportional EBITDA of the jointly-owned subsidiaries, Namisa, MRS Log&#237;stica and CBSI.</font></font></p>

   <p style="margin:0cm 2.85pt 0pt 0cm;text-align:justify;">&nbsp;</p>

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Third-quarter adjusted EBITDA amounted to R$977 million, 25% less than the R$1,303 million posted in 2Q14, basically due to the lower contribution from steel and mining operations, accompanied by a margin of 23%, down by 7 p.p. over 2Q14.</font></font></p></td>
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<p style="margin:0cm 0cm 0pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></p>

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<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:8pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Financial Result and Net Debt </font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In 3Q14, CSN&#8217;s consolidated net financial result was negative by R$944 million, mainly due to the following factors:</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=black face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=black face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Interest on loans and financing totaling R$707 million;</font></font><font color=black face="Times New Roman"><font lang=EN-US style="font-size:10pt;"> </font></font></p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=black face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=black face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The R$119 million effect related to the complement of interest on contingencies included in the tax repayment program REFIS (Law 11941/09);</font></font></p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=black face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=black face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Monetary and foreign exchange variations amounting to R$77 million;</font></font></p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=black face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=black face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Expenses of R$40 million with the monetary restatement of tax payment installments;</font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> </font></font></p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=black face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=black face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Other financial expenses totaling R$44 million.</font></font></p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">These negative effects were partially offset by consolidated financial revenue of R$43 million.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Gross debt, net debt and the net debt/EBITDA ratio presented below reflect the Company&#8217;s proportional interest in Namisa, MRS Log&#237;stica and CBSI, as well as the impact from the partial spin-off of Transnordestina Log&#237;stica S/A.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">At the close of September 30, 2014, net debt stood at R$17.6 billion, R$0.9 billion more than on June 30, 2014. The net debt/EBITDA ratio based on LTM adjusted EBITDA closed the third quarter at 3.2x, 0.5x more than the 2.7x recorded at the end of 2Q14. Net debt was impacted by the following factors:</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=windowtext face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=windowtext face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Investments of R$0.6 billion in fixed assets;</font></font></p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=windowtext face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=windowtext face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">A R$0.7 billion effect related to the cost of debt; </font></font></p>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=windowtext face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=windowtext face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Foreign exchange variation of R$0.4 billion;</font></font></p>

<p style="margin:0cm 0cm 0pt 36pt;text-align:justify;text-indent:-18pt;"><font color=windowtext face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font color=windowtext face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Disbursements of R$0.3 billion on the share buyback program.</font></font></p>

<p style="margin:0cm 0cm 0.4pt 18pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">These negative effects were </font></font><font color=black face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">partially</font></font><font color=windowtext face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;"> offset by 3Q14 EBITDA of R$1.0 billion and the R$0.1 billion reduction in working capital. </font></font></p>

<p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:9pt;">Indebtedness (R$ million) and Net Debt /Adjusted EBITDA ratio</font></font></p>

<p align=center style="margin:0cm 0cm 0pt;text-align:center;">
<img border=0 src="x14112610004301.gif"></p>

<p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

<div style="background:navy;border-bottom:windowtext 1pt solid;border-left:medium none;border-right:medium none;border-top:medium none;padding-bottom:1pt;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:8pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Equity Result </font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">CSN&#8217;s equity result was positive by R$198 million in 3Q14, versus a negative R$67 million in 2Q14, chiefly due to the result of the jointly-owned subsidiary Namisa. </font></font></p>

<div style="background:navy;border-bottom:windowtext 1pt solid;border-left:medium none;border-right:medium none;border-top:medium none;padding-bottom:1pt;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:8pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Net Income</font></b></font></h3></div>

<p style="line-height:11pt;margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;layout-grid-mode:line;">In the third quarter, the Company posted a consolidated net loss of R$250 million, basically reflecting the lower operating result in the quarter. </font></font></p>

<div style="background:navy;border-bottom:windowtext 1pt solid;border-left:medium none;border-right:medium none;border-top:medium none;padding-bottom:1pt;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:10pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Capex</font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Investments reflect the Company&#8217;s proportional interest in Namisa, MRS Log&#237;stica and CBSI. The Company has ceased consolidating its interest in Transnordestina Log&#237;stica S/A, due to the partial spin-off on December 27, 2013 and the consequent entry into effect of the new shareholders&#8217; agreement. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">CSN invested R$613 million in 3Q14. Of this total, the main investments were R$156 million in mining, R$128 million in steel, R$203 million in cement and R$108 million in logistic. </font></font></p>

<div style="background:navy;border-bottom:windowtext 1pt solid;border-left:medium none;border-right:medium none;border-top:medium none;margin-left:0cm;margin-right:2.85pt;padding-bottom:1pt;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:8pt 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Working Capital</font></b></font></h3></div>

<p style="margin:0cm 0pt 0pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In the third quarter, the Company reviewed the balance of the accounts composing its working capital, which includes Inventories, Suppliers, Salaries and Taxes. For comparison purposes, 2Q14 working capital was recalculated and reduced by R$493 million. </font></font></p>

<p style="margin:0cm 0pt 0pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0pt 0pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">At the close of 3Q14, working capital applied to the Company&#8217;s businesses totaled R$2,094 million, a reduction of R$144 million compared to 2Q14, particularly due to the reduction in accounts receivable and the increase in salaries and social contributions, partially offset by higher inventories. </font></font></p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">22</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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   <TD rowSpan=2 align=right>&nbsp;
   <IMG src="x14112610004310.jpg" width=118 height=54></TD></TR>

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<P>&nbsp;</P>

<P>The average receivables period contracted by five days, the average payment period by one day, while the average inventory turnover period widened by seven days.</P>

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<TABLE style="WIDTH: 100%" border=0 cellSpacing=0>



<TR>

   <TD width="55%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD></TR>

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   <TD bgColor=#003366 rowSpan=3 width="55%" align=left><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">WORKING CAPITAL (R$ MM)</FONT></B></FONT><FONT color=#ffffff><BR></FONT></FONT></TD>

   <TD bgColor=#003366 vAlign=middle rowSpan=3 width="15%" align=center><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">2Q14</FONT></B></FONT></FONT></TD>

   <TD bgColor=#003366 vAlign=middle rowSpan=3 width="15%" align=center><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">3Q14</FONT></B></FONT></FONT></TD>

   <TD bgColor=#003366 vAlign=middle rowSpan=3 width="15%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">Change</FONT></B></FONT><FONT><FONT color=#ffffff><BR></FONT><FONT><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">3Q14 x 2Q14</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">&nbsp;</FONT></FONT></FONT></TD></TR>

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<TR vAlign=bottom></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Assets</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">4,602</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">4,523</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(79)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Accounts Receivable</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,716</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,406</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(309)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Inventory (*)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,766</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,997</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">231</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Advances to Taxes</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">121</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">119</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(1)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Liabilities</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,363</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,429</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">65</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Suppliers</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,567</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,509</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(58)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Salaries and Social Contribution</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">284</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">358</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">74</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Taxes Payable</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">481</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">539</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">58</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Advances from Clients</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">31</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">23</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(8)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Working Capital</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,239</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,094</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(145)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="100%" colSpan=4><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp; </FONT></FONT></TD></TR>

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   <TD bgColor=#003366 rowSpan=3 width="55%" align=left><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">TURNOVER RATIO</FONT></B></FONT><FONT><FONT color=#ffffff><BR></FONT><FONT><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">Average Periods</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">&nbsp;</FONT></FONT></FONT></TD>

   <TD bgColor=#003366 vAlign=middle rowSpan=3 width="15%" align=center><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">2Q14</FONT></B></FONT></FONT></TD>

   <TD bgColor=#003366 vAlign=middle rowSpan=3 width="15%" align=center><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">3Q14</FONT></B></FONT></FONT></TD>

   <TD bgColor=#003366 vAlign=middle rowSpan=3 width="15%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">Change</FONT></B></FONT><FONT><FONT color=#ffffff><BR></FONT><FONT><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">3Q14 x 2Q14</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" color=#ffffff face="trebuchet ms">&nbsp;</FONT></FONT></FONT></TD></TR>

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   <TD width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Receivables</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">31</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">26</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(5)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Supplier Payment</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">49</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">48</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(1)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Inventory Turnover</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">87</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">94</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">7</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" width="55%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Cash Conversion Cycle</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">69</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">72</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" width="15%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">3</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="100%" colSpan=4 align=left><FONT><I><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(*) Inventory - includes "Advances to Suppliers" and does not include "Supplies".</FONT></I></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR></TABLE></DIV>

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<DIV>&nbsp;</DIV>

<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: navy; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

<H3 style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 8pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: navy; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT face="trebuchet ms,sans-serif"><B><FONT style="FONT-SIZE: 14pt" color=#ffffff>Results by Segment</FONT></B></FONT></H3></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT face="trebuchet ms,sans-serif"><FONT style="FONT-SIZE: 10pt" lang=EN-US>The Company maintains integrated operations in five business segments: steel, mining, logistics, cement and energy. The main assets and/or companies comprising each segment are presented below: </FONT></FONT></P>

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

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<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



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   <TD width="20%">&nbsp;</TD>

   <TD width="20%">&nbsp;</TD>

   <TD width="20%">&nbsp;</TD>

   <TD width="20%">&nbsp;</TD>

   <TD width="20%">&nbsp;</TD></TR>

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   <TD style="BORDER-BOTTOM: #ffffff 2px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#000080 width="20%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Steel</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #ffffff 2px solid; TEXT-INDENT: 28.08pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#000080 width="20%" align=left><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Mining</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #ffffff 2px solid; TEXT-INDENT: 30.12pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#000080 width="20%" align=left><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Logistics</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #ffffff 2px solid; TEXT-INDENT: 31.559pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#000080 width="20%" align=left><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Cement</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #ffffff 2px solid; TEXT-INDENT: 32.76pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#000080 width="20%" align=left><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Energy</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Usina Presidente Vargas</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Casa de Pedra</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Railways:</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Volta Redonda</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">CSN Energia</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Porto Real</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Namisa (60%)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">- MRS</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Arcos</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Itasa</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Paran&#225;</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Tecar</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">- FTL</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">LLC</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">ERSA</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">- TLSA</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Lusosider</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Port:</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Prada (Distribution and</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">- Sepetiba Tecon</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Packaging)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Metalic</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">SWT</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="20%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT face="trebuchet ms,sans-serif"><FONT style="FONT-SIZE: 10pt" lang=EN-US>The information on CSN&#8217;s five business segments is derived from the accounting data, together with allocations and the apportionment of costs among the segments. Results by segment reflect the Company&#8217;s proportional interest in Namisa, MRS Log&#237;stica and CBSI, as well as the full consolidation of FTL.</FONT></FONT></P>

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

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT face="trebuchet ms,sans-serif"><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US>Net revenue by segment (R$ million)</FONT></U></B></FONT><FONT face="trebuchet ms,sans-serif"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US> </FONT></B></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>PAGE </FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>23</FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR> of 83</FONT></FONT></P>

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   <TD width="36%" align=left><FONT><B><U><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Results by segment</FONT></U></B></FONT><FONT><U><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></U></FONT></TD>

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   <TD width="36%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">R$ million</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

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   <TD width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">3Q14</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD width="100%" colSpan=9><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

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   <TD style="TEXT-INDENT: 1.324pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="36%" align=left><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Consolidated Results</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Steel</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Mining</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Logistics</FONT></B></FONT> <FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(Port)</FONT></B></FONT> </FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT><FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Logistics<BR>(Railways)</FONT></B></FONT></FONT> </FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Energy</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Cement</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Corporate/</FONT></B></FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms"><BR></FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Eliminations</FONT></B></FONT> </FONT></TD>

   <TD bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Consolidated</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Net Revenue</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,788</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">914</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">39</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 20.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">335</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 16.075pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">97</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 14.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">120</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(410)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">3,883</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 3.839pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Domestic Market</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,138</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">71</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">39</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 20.879pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">335</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 16.075pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">97</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 14.879pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">120</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(316)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,484</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 3.839pt; BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Foreign Market</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">649</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">843</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 21.719pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 13.915pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 15.719pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(94)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,399</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Cost of Goods Sold</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(2,173)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(796)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(33)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(219)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 13.915pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(49)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 15.719pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(86)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">445</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(2,912)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Gross Profit</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">614</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">118</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">7</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 20.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">115</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 16.075pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">48</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 17.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">34</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">35</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">971</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Selling, General and Administrative Expenses</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(161)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(13)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 21.719pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(25)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 16.915pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(5)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 15.719pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(18)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(155)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(379)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Depreciation</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">205</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">99</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">3</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 23.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">42</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">4</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 17.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">10</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(37)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">326</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Proportional EBITDA of Jointly Controlled Companies</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 21.719pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 13.915pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 15.719pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">58</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">58</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 2.159pt; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="36%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Adjusted EBITDA</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">658</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">203</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">10</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 20.879pt; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">132</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 16.075pt; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">47</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 17.879pt; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">26</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(99)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">977</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR>

   <TD width="100%" colSpan=9><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="36%" align=center><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">R$ million</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2Q14</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 1.324pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="36%" align=left><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Consolidated Results</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Steel</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Mining</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Logistics<BR>(Port)</FONT></B></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Logistics</FONT></B></FONT> <FONT style="FONT-SIZE: 9pt" face="trebuchet ms"><BR></FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(Railways)</FONT></B></FONT> </FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Energy</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Cement</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#808080 vAlign=middle width="8%" align=center><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Corporate/</FONT></B></FONT> <FONT style="FONT-SIZE: 9pt" face="trebuchet ms"><BR></FONT><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Eliminations</FONT></B></FONT> </FONT></TD>

   <TD bgColor=#808080 vAlign=middle width="8%" align=center><FONT color=#ffffff><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Consolidated</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Net Revenue</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,843</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,117</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">47</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 20.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">226</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 16.075pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">87</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 14.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">113</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(380)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">4,052</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 3.839pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Domestic Market</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,185</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">82</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">47</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 20.879pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">226</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 16.075pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">87</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 14.879pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">113</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(211)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2,529</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 3.839pt; BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Foreign Market</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">657</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,035</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 21.719pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 13.915pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 15.719pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(169)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,523</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Cost of Goods Sold</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(2,083)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(740)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(31)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(156)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 13.915pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(49)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 15.719pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(72)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">385</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(2,747)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Gross Profit</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">759</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">377</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">16</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 23.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">70</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 16.075pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">38</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 17.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">42</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">5</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,306</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Selling, General and Administrative Expenses</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(168)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(20)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 21.719pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(21)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 16.915pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(5)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 15.719pt; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(17)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(126)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD bgColor=#c0c0c0 width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(358)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Depreciation</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">202</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">85</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">2</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 23.879pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">39</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">4</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">9</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(45)</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">296</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="36%" align=left><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Proportional EBITDA of Jointly Controlled Companies</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 21.719pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 13.915pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="TEXT-INDENT: 15.719pt; BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">-</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-RIGHT: #ffffff 2px solid" width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">58</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD width="8%" align=right><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">58</FONT></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 2.159pt; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="36%" align=left><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">Adjusted EBITDA</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">793</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">442</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">18</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 23.879pt; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">87</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 16.075pt; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">37</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 17.879pt; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">34</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #ffffff 2px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">(107)</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-TOP: #000000 1px solid" bgColor=#c0c0c0 width="8%" align=right><FONT><B><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">1,303</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 9pt" face="trebuchet ms">&nbsp;</FONT></FONT></TD></TR></TABLE></DIV>

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

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

<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: navy; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

<H3 style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PAGE-BREAK-AFTER: avoid; MARGIN: 8pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: navy; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT color=white face="trebuchet ms,sans-serif"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US>Steel</FONT></B></FONT></H3></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0cm"><FONT face="trebuchet ms,sans-serif"><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US>Scenario </FONT></U></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0cm">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0cm"><FONT face="trebuchet ms,sans-serif"><FONT style="FONT-SIZE: 10pt" lang=EN-US>According to the World Steel Association (WSA), global crude steel production totaled 1.2 billion tonnes in the first nine months of 2014, 2% higher than in 9M13, the same percentage growth recorded in China, which was responsible for 618 million tonnes. Global capacity use reached 76% in September 2014, 2 p.p. down on June. For 2014, the WSA expects a 2% growth in world apparent steel consumption and an increase of 1% in China.</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>PAGE </FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>24</FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR> of 83</FONT></FONT></P>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:6pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">According to the Brazilian Steel Institute (IABr), domestic crude steel production came to 25.5 million tonnes in 9M14, down 1% on 9M13, while rolled flat output totaled 18.7 million tonnes, down by 5%. Flat steel apparent consumption in 9M14 reached 9.0 million tonnes, 3% less year-on-year, with domestic sales totaling 8.4 million tonnes, 8% down on 9M13. On the other hand, flat steel imports climbed by 26% to 1.8 million tonnes, while exports fell by 3% to 1.2 million tonnes. </font></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:6pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The IABr reduced its estimates for domestic steel product sales from 23.7 to 21.7 million tonnes in 2014, with apparent consumption moving down from 27.2 to 25.3 million tonnes.</font></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:6pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Automotive</font></u></b></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">According to ANFAVEA (the Auto Manufacturers&#8217; Association), Brazil&#8217;s vehicle production totaled 2.4 million units in 9M14, 17% less than the 2.9 million vehicles produced in 9M13. It is important mentioning truck production, which fell by 24%, followed by vehicles, light commercial vehicles and buses, down by 17%, 14% and 12%, respectively.</font></font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;"> </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Vehicle sales declined by 9% in 9M14 over 9M13, led by the bus and trucks segments, with respective downturn of 17% and 14%, partially offset by the 1% growth in the light commercial vehicle segment. Exports fell by 39% year-on-year in the first nine months, basically influenced by the lower sales to Argentina.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In this scenario, ANFAVEA revised its estimates for 2014, estimating reduction of 10% in production and 5% in vehicle sales over 2013.</font></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:6pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">With relation to light vehicles, FENABRAVE (the Vehicle Distributors&#8217; Association) registered reduction of 8% in the number of vehicles licensed, from 2.6 million units in 9M13 to 2.4 million units in 9M14. The association expects 2014 light vehicle sales to fall by 8% over last year.</font></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:6pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Construction</font></u></b></font><font face=calibri,sans-serif><font lang=EN-US style="font-size:11pt;"> </font></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:6pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">According to ABRAMAT (the Construction Material Manufacturers&#8217; Association), sales of building material in the last twelve months ended in September 2014 fell by 4.9% over the same period in 2013. In this context, the association revised its estimates for 2014, to a reduction of 4% in sales. </font></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:6pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Home Appliances</font></u></b></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:6pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">According to the IBGE (Brazilian Institute of Geography and Statistics), home appliance production grew by 17% in 3Q14 over 2Q14, with expansion of 3% in the first nine months of 2014 over 9M13. </font></font></p>

<p style="margin:6pt 0cm;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Distribution</font></u></b></font><font face=calibri,sans-serif><font lang=EN-US style="font-size:11pt;"> </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">According to INDA (the Brazilian steel distributors&#8217; association), flat steel sales by domestic distributors totaled 3.3 million tonnes in 9M14, 2% down on the previous year. 9M14 purchases by the associated network came to 3.2 million tonnes, 9.7% down year-on-year, while inventories totaled 1.0 million tonnes at the close of 3Q14, declining by 1% over 2Q14. In this scenario, the association estimates sales to fall by 3% in 2014 over 2013. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Sales Volume</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In 3Q14, CSN&#8217;s steel sales totaled 1.27 million tonnes. Of this total, 72% went to the domestic market, 25% were sold by overseas subsidiaries and 3% went to exports.</font></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Domestic Sales Volume </font></u></b></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">CSN&#8217;s domestic steel sales came to 921 thousand tonnes in 3Q14, slightly more than the 918 thousand tonnes sold in 2Q14.</font></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">25</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Foreign Sales Volume</font></u></b></font><font face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:10pt;"> </font></b></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Foreign sales amounted to 353 thousand tonnes in 3Q14, 3% more than in the previous quarter. Of this total, the overseas subsidiaries sold 319 thousand tonnes, 180 thousand tonnes of which by SWT. Direct exports came to 34 thousand tonnes.</font></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Prices</font></u></b></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Net revenue per tonne averaged R$2,130 in 3Q14, a 3.8% reduction over 2Q14, essentially due to the sales mix.</font></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Net Revenue</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Net revenue from steel operations totaled R$2,788 million in 3Q14, 2% down on the R$2,843 million recorded in 2Q14.</font></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Cost of Goods Sold (COGS) </font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In 3Q14, steel COGS amounted to R$2,173 million, 4% higher than the 2Q14 figure, basically due to a nominal increase in COGS given non-recurring adjustments booked in 2Q14. </font></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Adjusted EBITDA</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Adjusted steel segment EBITDA totaled R$658 million in 3Q14, 17% down on the R$793 million recorded in 2Q14, due to the aforementioned reasons. The adjusted EBITDA margin came to 24% in 3Q14, 4 p.p. down on 2Q14.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Production</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The Presidente Vargas Steelworks (UPV) produced 1.2 million tonnes of crude steel in 3Q14, 5% more than in 2Q14, with additional consumption of 125,000 slabs purchased from third parties. Third-quarter rolled steel output totaled 1.1 million tonnes, the same level of the previous quarter. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
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   <p style="margin:0cm 0cm 0pt;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">Production (in thousand t)</font></b></font></p></td>
 <td rowspan=2 width=12% style="background:#99ccff;border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;height:10.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">2Q14</font></b></font></p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">3Q14</font></b></font></p></td>
 <td colspan=2 width=22% style="background:#99ccff;border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;height:10.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">First Nine months of</font></b></font></p></td>
 <td colspan=2 width=28% style="background:#99ccff;border-bottom:windowtext 1pt solid;border-right:black 1pt solid;border-top:windowtext 1pt solid;height:10.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">Change</font></b></font></p></td>
 </tr>
<tr style="height:14.05pt;">
  <td width=11% style="background:#99ccff;border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:14.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">2013</font></b></font></p></td>
 <td width=11% style="background:#99ccff;border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:14.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">2014</font></b></font></p></td>
 <td width=14% style="background:#99ccff;border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:14.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">3Q14 x 2Q14</font></b></font></p></td>
 <td width=14% style="background:#99ccff;border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:14.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">9M14 X 9M13</font></b></font></p></td>
 </tr>
<tr style="height:18pt;">
  <td width=26% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">Crude Steel (UPV)</font></b></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font style="font-size:9pt;">1,120</font></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font style="font-size:9pt;">1,177</font></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font style="font-size:9pt;">3,365</font></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font style="font-size:9pt;">3,395</font></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font style="font-size:9pt;">5%</font></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font style="font-size:9pt;">1%</font></font></p></td>
 </tr>
<tr style="height:18pt;">
  <td width=26% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:9pt;">Purchased Slabs from Third Parties</font></b></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font style="font-size:9pt;">103</font></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font style="font-size:9pt;">125</font></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font style="font-size:9pt;">434</font></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font style="font-size:9pt;">329</font></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><font style="font-size:9pt;">21%</font></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font style="font-size:9pt;">-24%</font></font></p></td>
 </tr>
<tr style="height:18pt;">
  <td width=26% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">Total Crude Steel</font></b></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">1,222</font></b></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">1,302</font></b></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">3,799</font></b></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">3,724</font></b></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">7%</font></b></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">-2%</font></b></font></p></td>
 </tr>
<tr style="height:18pt;">
  <td width=26% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">Total Rolled Products</font></b></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">1,099</font></b></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">1,097</font></b></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">3,446</font></b></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">3,250</font></b></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">0%</font></b></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face="trebuchet ms,sans-serif"><b><font style="font-size:9pt;">-6%</font></b></font></p></td>
 </tr>
</table></div>

<p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Production Costs (Parent Company)</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In 3Q14, total production costs at the Presidente Vargas Steelworks (UPV) came to R$1,651 million, in line with the second-quarter figure. </font></font></p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">26</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">&nbsp;
<img border=0 src="x14112610004304.gif"></font></font></p>

<div style="background:navy;border-bottom:windowtext 1pt solid;border-left:medium none;border-right:medium none;border-top:medium none;padding-bottom:1pt;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:10pt 0cm 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Mining</font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">At the close of 3Q14, seaborne iron ore prices recorded the lowest figure in the last five years, with the Platts Fe62% CFR China index reaching US$77.75/dmt. Compared to the US$134.50/dmt registered in early 2014, the price reduction came to 42%. Pressed by the capacity expansion in Australian mining companies, iron ore prices were still impacted by demand factors, such as the poor performance of the real estate sector in China, the low availability of credit for steelmakers and the high level of iron ore inventories in Chinese ports. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In this scenario, the Platts Fe62% CFR China index averaged US$90.21/dmt in 3Q14, 12% down on the 2Q14 average. The iron ore quality premium varied between US$1.45/dmt and US$1.70/dmt per 1% of Fe content, while freight costs on the Tubar&#227;o/Qingdao route averaged US$21.06/wmt, 3.7% more than the previous quarter&#8217;s average.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Brazil exported 92.5 million tonnes of iron ore in the third quarter, 9% up on 2Q14.</font></font></p>

<p style="line-height:normal;margin:7.2pt 0cm 3pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Iron ore sales</font></u></b></font></p>

<p style="margin:7.2pt 2.85pt 3pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In 3Q14, sales of finished iron ore products totaled 7.7 million tonnes, 7% up on the 7.2 million tonnes sold in 2Q14. Of this total, 2.6 million tonnes were sold by Namisa<sup>1</sup>. Almost all iron ore sold in 3Q14 was exported. Iron ore volume for own consumption reached 1.5 million tonnes in 3Q14.</font></font></p>

<p style="margin:7.2pt 2.85pt 3pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">In 9M14, sales of finished iron ore products totaled a record of 21.3 million tonnes, 19% up on 9M13. Of this total, 7.1 million tonnes were sold by Namisa<sup>1</sup>. Virtually all iron ore sold in 9M14 was exported. In addition to sales to third-parties, CSN&#8217;s steel production consumed 4.5 million tonnes in 9M14.</font></font></p>

<p style="margin:7.2pt 2.85pt 3pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">It is important mentioning the record volume of iron ore shipments at Tecar, which totaled 24.4 million tonnes in the first nine months, climbing by 23% year-on-year.</font></font></p>

<p style="margin:7.2pt 0cm 3pt;text-align:justify;"><sup><font face="trebuchet ms,sans-serif"><i><font lang=EN-US style="font-size:7pt;">1 </font></i></font></sup><font face="trebuchet ms,sans-serif"><i><font lang=EN-US style="font-size:7pt;">Sales volumes include 100% of the stake in NAMISA.</font></i></font></p>

<p style="line-height:normal;margin:7.2pt 0cm 3pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Net Revenue</font></u></b></font></p>

<p style="margin:7.2pt 2.85pt 3pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Net revenue from mining operations totaled R$914 million in 3Q14, 18% less than in 2Q14, primarily due to the reduction in iron ore prices. </font></font></p>

<p style="line-height:normal;margin:7.2pt 0cm 3pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Cost of Goods Sold (COGS)</font></u></b></font></p>

<p style="margin:7.2pt 2.85pt 3pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Mining COGS came to R$796 million in 3Q14, 8% up on 2Q14, mostly due to the increase in iron ore sales volume.</font></font></p>

<p style="line-height:normal;margin:7.2pt 0cm 3pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Adjusted EBITDA</font></u></b></font></p>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:7.2pt 2.85pt 3pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Adjusted EBITDA from mining operations totaled R$203 million in 3Q14, 54% down on the R$442 million reported in 2Q14, for the above mentioned reasons, accompanied by an adjusted EBITDA margin of 22%. </font></font></p>

<div style="background:navy;border-bottom:windowtext 1pt solid;border-left:medium none;border-right:medium none;border-top:medium none;padding-bottom:1pt;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

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<p style="margin:0cm 0cm 6pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 6pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Scenario</font></u></b></font></p>

<p style="margin:6pt 2.85pt 0pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Railway Logistics</font></u></b></font></p>

<p style="background:white;margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;layout-grid-mode:line;">According to the ANTF (the National Rail Transport Association), the Brazilian railways transported 233 million tonnes in 1H14 of useful cargo. The association expects rail cargo volume to move up by 12% to 510 million tonnes between 2014 and 2016.</font></font></p>

<p style="margin:6pt 2.85pt 0pt 0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Port Logistics</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="background:white;margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;layout-grid-mode:line;">According to ANTAQ (the National Waterway Transport Agency), Brazil&#8217;s port installations handled around 463 million tonnes in 1H14, 6% up on the same period the year before. </font></font></p>

<p style="background:white;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="background:white;margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;layout-grid-mode:line;">Also in 1H14, bulk solids totaled 281 million tonnes, 6% more than in 1H13, while container handling in Brazilian ports came to 4.5 million TEUs<sup>1</sup>, 9% up year-on-year.</font></font></p>

<p style="margin:6pt 0cm 0pt;text-align:justify;"><sup><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:6pt;">1 </font></font></sup><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:6pt;">TEU (Twenty&#8208;Foot Equivalent Unit) &#8211; transportation unit equivalent to a standard 20-feet intermodal container</font></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Analysis of Results</font></u></b></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Railway Logistics</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Net revenue from railway logistics totaled R$335 million in 3Q14. On the other hand, COGS came to R$219 million, and adjusted EBITDA totaled R$132 million, with an adjusted EBITDA margin of 39%.</font></font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Port Logistics</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Net revenue from port logistics amounted to R$39 million in 3Q14, COGS totaled R$33 million and adjusted EBITDA came to R$10 million, with an adjusted EBITDA margin of 24%.</font></font></p>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">The Portland Cement Association (PCA) expects global cement production to grow by approximately 4% in 2014, and 4.6% in South America. </font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Analysis of Results</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Cement sales reached the record level of 589 thousand tonnes in 3Q14, 4% up on 2Q14, with record net revenue of R$120 million, while COGS came to R$86 million, generating EBITDA of R$26 million, with a margin of 22%.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;">Cement sales reached the record level of 1.6 million tonnes in 9M14, 9% more than in 9M13, generating record net revenue of R$331 million, while COGS came to R$223 million, generating record EBITDA of R$86 million, accompanied by a margin of 26%.</font></font></p>

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<p style="margin:6pt 0cm 0pt;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Scenario </font></u></b></font></p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">28</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;layout-grid-mode:line;">According to the Energy Research Company (EPE), Brazilian electricity consumption increased by 2.5% year-on-year in the first nine months of 2014, led by the commercial and residential segments, with respective growth of 7.6% and 5.9%.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;"><font face="trebuchet ms,sans-serif"><b><u><font lang=EN-US style="font-size:10pt;">Analysis of Results</font></u></b></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;layout-grid-mode:line;">In 3Q14, net revenue from electricity reached the record amount of R$97 million. COGS came to R$49 million, generating record EBITDA of R$47 million, with an EBITDA margin of 48%.</font></font></p>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;layout-grid-mode:line;">In 9M14, net revenue from electricity reached the record amount of R$249 million. COGS came to R$140 million, generating record EBITDA of R$107 million, with an EBITDA margin of 43%.</font></font></p>

<div style="background:navy;border-bottom:windowtext 1pt solid;border-left:medium none;border-right:medium none;border-top:medium none;padding-bottom:1pt;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

<h3 align=center style="background:navy;border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:6pt 0cm 0cm;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;page-break-after:avoid;text-align:center;"><font color=white face="trebuchet ms,sans-serif"><b><font lang=EN-US style="font-size:14pt;">Capital Market</font></b></font></h3></div>

<p style="margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;text-align:justify;"><font face="trebuchet ms,sans-serif"><font lang=EN-US style="font-size:10pt;layout-grid-mode:line;">CSN&#8217;s shares depreciated by 7% in 3Q14, while the Company&#8217;s ADRs fell by 17% on the NYSE. Daily traded volume in CSN&#8217;s shares averaged R$60 million in 3Q14, from 5.7 million shares traded. On the NYSE, daily traded volume in CSN&#8217;s ADRs averaged US$25 million, from 5.5 million ADRs traded. </font></font></p>

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<p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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  <td align=center bgcolor=#002060 colspan=2 width=100% style="border-bottom:#ffffff 2px solid;"><font color=#ffffff><b><font face="trebuchet ms" style="font-size:9pt;">Capital Markets - CSNA3 / SID / IBOVESPA / DOW JONES</font></b></font></td>
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  <td align=left bgcolor=#002060 width=79%><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=center bgcolor=#002060 width=21%><font color=#ffffff><b><font face="trebuchet ms" style="font-size:9pt;">3Q14</font></b></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79% style="border-bottom:#000000 1px solid;"><font><font face="trebuchet ms" style="font-size:9pt;">N# of shares</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21% style="border-bottom:#000000 1px solid;"><font><font face="trebuchet ms" style="font-size:9pt;">1,387,524</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79%><font><font face="trebuchet ms" style="font-size:9pt;">Market Capitalization</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=left width=21%><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Closing price (R$/share)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">8.70</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 </tr>
<tr valign=bottom>
  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Closing price (US$/share)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">3.55</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Market Capitalization (R$ million)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">12,071</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79% style="border-bottom:#000000 1px solid;text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Market Capitalization (US$ million)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21% style="border-bottom:#000000 1px solid;"><font><font face="trebuchet ms" style="font-size:9pt;">4,926</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79%><font><font face="trebuchet ms" style="font-size:9pt;">Total return including dividends and interest on equity</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=left width=21%><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">CSNA3 (%)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">-7%</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">SID (%)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">-19%</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Ibovespa</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">7%</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 </tr>
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  <td align=left width=79% style="border-bottom:#000000 1px solid;text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Dow Jones</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21% style="border-bottom:#000000 1px solid;"><font><font face="trebuchet ms" style="font-size:9pt;">1%</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79%><font><font face="trebuchet ms" style="font-size:9pt;">Volume</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=left width=21%><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Average daily (thousand shares)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">5,678</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 </tr>
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  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Average daily (R$ Thousand)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">59,968</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 </tr>
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  <td align=left width=79% style="text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Average daily (thousand ADRs)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21%><font><font face="trebuchet ms" style="font-size:9pt;">5,513</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 </tr>
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  <td align=left width=79% style="border-bottom:#000000 1px solid;text-indent:3.147pt;"><font><font face="trebuchet ms" style="font-size:9pt;">Average daily (US$ Thousand)</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=right width=21% style="border-bottom:#000000 1px solid;"><font><font face="trebuchet ms" style="font-size:9pt;">25,279</font></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 </tr>
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  <td align=left width=79%><font><i><font face="trebuchet ms" style="font-size:9pt;">Source: Econom&#225;tica</font></i></font><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
 <td align=left width=21%><font><font face="trebuchet ms" style="font-size:9pt;">&nbsp;</font></font></td>
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<p align=right style="line-height:116%;margin:0cm 0cm 0pt;text-align:right;text-indent:18pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&nbsp;(Expressed in thousands of reais &#8211; R$, unless otherwise stated)</font></b></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">1.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">DESCRIPTION OF BUSINESS</font></b></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Companhia Sider&#250;rgica Nacional &#8220;CSN&#8221;, also referred to as the Company or Parent Company, is a publicly-held company incorporated on April 9, 1941, under the laws of the Federative Republic of Brazil (Companhia Sider&#250;rgica Nacional, its subsidiaries, associates and jointly controlled entities collectively referred to herein as the "Group&#8221;). The Company&#8217;s registered office is located in S&#227;o Paulo, SP, Brazil.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:115%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">CSN has shares listed on the S&#227;o Paulo Stock Exchange (BM&amp;F BOVESPA) and the New York Stock Exchange (NYSE). Accordingly, it reports its information to the Brazilian Securities Commission (CVM) and the U.S. Securities and Exchange Commission (SEC). </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Group's main operating activities are divided into five (5) operating segments as follows: </font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Steel:</font></b></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company&#8217;s main industrial facility is the Presidente Vargas Steel Mill (&#8220;UPV&#8221;), located in the city of Volta Redonda, State of Rio de Janeiro. This segment consolidates the operations related to the production, distribution and sale of flat steel, long steel, metallic containers and galvanized steel. In addition to the facilities in Brazil, CSN has operations in the United States, Portugal and Germany aimed at gaining markets and performing excellent services for final consumers. Its steels are used in the home appliances, civil construction and automobile industries.&nbsp; </font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Mining:</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The production of iron ore is developed in the city of Congonhas, in the State of Minas Gerais. It further mines tin in the State of Rond&#244;nia to supply the needs of UPV, with the excess of these raw materials being sold to subsidiaries and third parties. CSN holds the concession to operate TECAR, a solid bulk terminal, one of the 4 (four) terminals that comprise the Itagua&#237; Port, in Rio de Janeiro. Importations of coal and coke are carried out through this terminal.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Cement:</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">CSN entered the cement market boosted by the synergy between this new activity and its already existing businesses. Next to the Presidente Vargas Steel Mill in Volta Redonda (RJ), it installed a new business unit: CSN Cimentos, which produces CP-III type cement by using slag produced by the UPV blast furnaces in Volta Redonda. It also explores limestone and dolomite at the Arches drive in the State of Minas Gerais, to supply the needs of UPV and of the cement plant. </font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Logistics</font></b></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Railroads:</font></i></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">CSN has equity interests in three railroad companies: MRS Log&#237;stica S. A., which manages the former Southeast Railway System of Rede Ferrovi&#225;ria Federal S.A., Transnordestina Log&#237;stica S. A. (&#8220;TLSA&#8221;) and FTL - Ferrovia Transnordestina Log&#237;stica S.A. (&#8220;FTL&#8221;), which operate the Northeast Railway System of RFFSA, in the States of Maranh&#227;o, Piau&#237;, Cear&#225;, Rio Grande do Norte, Para&#237;ba, Pernambuco and Alagoas, with TLSA being responsible for the streches of Miss&#227;o Velha - Salgueiro, Salgueiro - Trindade, Trindade - Eliseu Martins, Salgueiro - Porto de Suape and Miss&#227;o Velha - Porto de Pec&#233;m (Railway System II) and FTL being responsible for the streches of S&#227;o Luiz - Mucuripe, Arrojado - Recife, Itabaiana - Cabedelo, Paula Cavalcante - Macau and Propri&#225; - Jorge Lins (Railway System I).</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Ports</font></i></font><font face=Arial,sans-serif><b><i><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">: </font></i></b></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">In the State of Rio de Janeiro, by means of its subsidiary Sepetiba Tecon S. A., the Company operates the Container Terminal (Tecon) at the Itagua&#237; Port. &nbsp;Located in the Bay of Sepetiba, this port has privileged highway, railroad and maritime access.</font></font></font></p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">30</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Tecon handles the shipments of CSN steel products, movement of containers, as well as storage, consolidation and deconsolidation of cargo.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Energy:</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">As energy is fundamental in its production process, the Company has assets for generation of electric power to guarantee its self-sufficiency. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">For further details on the Group's segments, see Note 24 - Business Segment Reporting.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">2.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></b></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 24pt;text-align:justify;text-indent:-24pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(a)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Basis of preparation</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The consolidated condensed interim financial statements have been prepared and are being presented in accordance with the International Accounting Standards (IAS 34 &#8211; Interim Financial Reporting) issued by the International Accounting Standards Board (IASB), which correlate in Brazil is the CPC 21 (R1) (Interim Financial Statements and Consolidated Interim Financial Statements) issued by the CPC (Accounting Pronouncements Committee) and approved by CVM (Brazilian Securities Commission).</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The individual condensed interim financial statements have been prepared in accordance with the standards issued by the CPC and the CVM applicable to the preparation of the financial statements. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The significant accounting policies applied in these condensed interim financial statements are consistent with the policies described in Note 2 to the Company's financial statements for the year ended December 31, 2013, filed with the CVM. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">These condensed interim financial statements do not include all requirements of annual or full financial statements and, accordingly, should be read together with the Company's financial statements for the year ended December 31, 2013.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Therefore, in these condensed interim financial statements the following notes were not repeated, either due to redundancy or to relevance in relation to those already presented in the annual financial statements:</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Note 02 &#8211; Summary of significant accounting policies</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Note 03 &#8211; Changes in accounting policies</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Note 04 &#8211; Business combination</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Note 28 &#8211; Employee benefits</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The individual and consolidated condensed interim financial statements were approved by the Board of Directors on November 13, 2014.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 24pt;text-align:justify;text-indent:-24pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(b)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Basis of presentation</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The consolidated condensed interim financial statements are presented in Brazilian reais (R$), which is the Company&#8217;s functional currency and the Group&#8217;s presentation currency.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Transactions in foreign currencies are translated into the functional currency using the exchange rates in effect at the dates of the transactions or valuation on which items are remeasured. The asset and liability balances are translated at the exchange rate in effect at the end of the reporting period. As of September 30, 2014, US$1 is equivalent to R$2.4510 (R$2.3426 as of December 31, 2013), &#8364;1 is equivalent to R$3.0954 (R$3.2265 as of December 31, 2013), and &#165;1 is equivalent to R$0.02235 (R$0.02233 as of December 31, 2013).</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 24pt;text-align:justify;text-indent:-24pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(c)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Basis of consolidation</font></b></font></font></p>

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  <td>&nbsp;</td>
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 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004319.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The consolidated condensed interim financial statements for the period ended September 30, 2014 and the year ended December 31, 2013 include the following direct and indirect subsidiaries and jointly controlled entities, as well as the exclusive funds as described below:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:-0.55pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Companies</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 valign=bottom width=18% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Equity interests (%)</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Companies</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Core business</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Direct interest in subsidiaries: full consolidation</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Islands VII Corp.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Islands VIII Corp.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Islands IX Corp.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Islands X Corp.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Islands XI Corp.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Islands XII Corp.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">CSN Minerals S.L.U.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">CSN Export Europe, S.L.U. </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Financial transactions and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Metals S.L.U.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Equity interests and financial transactions </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Americas S.L.U. </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Equity interests and financial transactions </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Steel S.L.U.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Equity interests and financial transactions </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">TdBB S.A</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Dormant company</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Sepetiba Tecon S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Port services</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Minera&#231;&#227;o Nacional S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Mining and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Companhia Florestal do Brasil</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Reforestation</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Estanho de Rond&#244;nia S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Tin mining</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Cia Metalic Nordeste</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Manufacture of packaging and distribution of steel products </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Companhia Metal&#250;rgica Prada</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Manufacture of packaging and distribution of steel products </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Cimentos S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Cement manufacturing </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Gest&#227;o de Recursos Financeiros Ltda.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Dormant company</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Congonhas Min&#233;rios S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Mining and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Energia S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Sale of electric power</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">FTL - Ferrovia Transnordestina Log&#237;stica S.A. </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">88.41 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">88.41 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Railroad logistics</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Indirect interest in subsidiaries: full consolidation</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Aceros S.A. (1)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Companhia Sider&#250;rgica Nacional LLC</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Steel</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Europe Lda.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Ib&#233;ria Lda.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Portugal, Unipessoal Lda. </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions and product sales</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Lusosider Projectos Sider&#250;rgicos S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Lusosider A&#231;os Planos, S. A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">99.98 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Steel and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Acquisitions, Ltd.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Resources S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Holdings (UK) Ltd </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Handel GmbH </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td align=center nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Companhia Brasileira de Latas </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td align=center nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">59.17 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Sale of cans and containers in general and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Rimet Empreendimentos Industriais e Comerciais S. A. </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">99.99 </font></font></p></td>
 <td align=center nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">58.96 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Production and sale of steel containers and forestry</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Companhia de Embalagens Met&#225;licas MMSA </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">99.66 </font></font></p></td>
 <td align=center nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">58.98 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Production and sale of cans and related activities</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Empresa de Embalagens Met&#225;licas - LBM Ltda. (2)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">58.98 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Sales of containers and holding interests in other entities</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Empresa de Embalagens Met&#225;licas - MUD Ltda. (2)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">58.98 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Production and sale of household appliances and related products</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Companhia de Embalagens Met&#225;licas - MTM do Nordeste </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">99.66 </font></font></p></td>
 <td align=center nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=center nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">58.98 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Production and sale of cans and related activities</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Companhia de Embalagens Met&#225;licas - MTM </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">99.66 </font></font></p></td>
 <td align=center nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=center nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">58.98 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Production and sale of cans and related activities</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Steel Comercializadora, S.L.U. </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Steel Holdings 1, S.L.U. </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Steel Holdings 2, S.L.U. </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Stalhwerk Th&#252;ringen GmbH </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Production and sale of long steel and related activities</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Steel Sections UK Limited </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Dormant company</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Steel Sections Czech Republic s.r.o. (3)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Steel Sections Polska Sp.Z.o.o </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CSN Asia Limited (4)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Commercial representation</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 nowrap width=45% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Direct interest in jointly controlled entities: proportionate consolidation </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">It&#225; Energ&#233;tica S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">48.75 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">48.75 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Electric power generation</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CGPAR - Constru&#231;&#227;o Pesada S.A. </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">50.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">50.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Mining support services and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Cons&#243;rcio da Usina Hidrel&#233;trica de Igarapava</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">17.92 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">17.92 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Electric power consortium</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Direct interest in jointly controlled entities: equity method</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Nacional Min&#233;rios S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Mining and equity interests</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">MRS Log&#237;stica S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">27.27 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">27.27 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Railroad transportation</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Aceros Del Orinoco S.A. (5)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">31.82 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">22.73 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Dormant company</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">CBSI - Companhia Brasileira de Servi&#231;os de Infraestrutura </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">50.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">50.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Provision of services</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Transnordestina Log&#237;stica S.A. </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">62.68 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">77.30 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Railroad logistics</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Indirect interest in jointly controlled entities: equity method</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Namisa International Min&#233;rios SLU </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Namisa Europe, Unipessoal Lda.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Equity interests and sales of products and minerals</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Namisa Handel GmbH </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Financial transactions, product sales and equity interests </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">MRS Log&#237;stica S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">6.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">6.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Railroad transportation</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Aceros Del Orinoco S.A. (5)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">9.08 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Dormant company</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Namisa Asia Limited (6)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">60.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Commercial representation</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Direct interest in associates: equity method</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=43% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Arvedi Metalfer do Brasil S.A. </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">20.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">20.00 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=43% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Steel and equity interests</font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">32</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_34"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004320.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div></div>

<div>&nbsp;</div>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(1)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Company liquidated on August 5, 2014.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(2)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Companies merged into Companhia de Embalagens Met&#225;licas MMSA on July 31, 2014.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(3)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Company liquidated on May 27,&nbsp; 2014.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(4)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Company established on June 30, 2014.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(5)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Transfer to CSN of the rights to subscribe to the shares of Aceros del Orinoco S. A. held by CSN Aceros, S.A.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(6)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Company established on July 10, 2014.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:-0.55pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Exclusive funds</font></b></font></font></p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
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  <td nowrap width=39% style="height:25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:windowtext 1pt solid;height:25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Equity interests (%)</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Exclusive funds</font></b></font></p></td>
 <td nowrap width=4% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">09/30/2014</font></b></font></p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:9pt;">12/31/2013</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Core business</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:9pt;">Direct interest: full consolidation</font></b></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=31% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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<tr style="height:13.1pt;">
  <td nowrap width=39% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Diplic - Private credit balanced mutual fund</font></font></p></td>
 <td nowrap width=4% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=31% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Investment fund</font></font></p></td>
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<tr style="height:13.1pt;">
  <td nowrap width=39% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Mugen - Private credit balanced mutual fund</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=31% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Investment fund</font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=39% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Caixa V&#233;rtice - Private credit balanced mutual fund</font></font></p></td>
 <td nowrap width=4% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:9pt;">100.00 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=31% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:9pt;">Investment fund</font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">3.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">CASH AND CASH EQUIVALENTS</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
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<tr style="height:12pt;">
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   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Cash and cash equivalents</font></b></font></p></td>
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 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=35% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Cash and banks</font></b></font></p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">188,351 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">178,920 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">14,989 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">36,553 </font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=35% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=35% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Short-term investments</font></b></font></p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=35% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">In Brazil:</font></b></font></p></td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=35% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Government securities </font></font></p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">191,146 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">48,206 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">139,573 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">42,575 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td width=35% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Private securities </font></font></p></td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">422,102 </font></font></p></td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">240,852 </font></font></p></td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">293,107 </font></font></p></td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">57,564 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=35% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">613,248 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">289,058 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">432,680 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100,139 </font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=35% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Abroad:</font></b></font></p></td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=35% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Time deposits</font></font></p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,169,763 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,527,694 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">29,613 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">69,932 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td width=35% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total short-term investments</font></b></font></p></td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,783,011 </font></b></font></p></td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,816,752 </font></b></font></p></td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">462,293 </font></b></font></p></td>
 <td align=right nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">170,071 </font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td width=35% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Cash and cash equivalents</font></b></font></p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,971,362 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,995,672 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">477,282 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">206,624 </font></b></font></p></td>
 </tr>
</table></div>

<p align=left style="line-height:115%;margin:0cm 0cm 0pt;text-align:left;">&nbsp;</p>

<p align=left style="line-height:115%;margin:0cm 0cm 0pt;text-align:left;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The funds available in the Company and subsidiaries set up in Brazil are basically invested in investment funds, classified as exclusive, which were consolidated, with repurchase agreements backed by government and private bonds, with fixed rate yield and immediate liquidity. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Private securities are short-term investments in Bank Deposit Certificates (CDBs) with yields pegged to the Interbank Deposit Certificate (CDI) fluctuation, and government securities are basically repurchase agreements backed by National Treasury Notes and National Treasury Bills. </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The exclusive funds managed by BTG Pactual Servi&#231;os Financeiros S.A. DTVM and Caixa Econ&#244;mica Federal and their assets collateralize possible losses on investments and transactions carried out. Investments in funds were consolidated.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">In addition, a significant part of the funds of the Company and its foreign subsidiaries is invested in Time Deposits with leading banks, bearing fixed rates. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">33</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_35"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004321.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">4.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">TRADE RECEIVABLES </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=45% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Trade receivables</font></b></font></p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Third parties</font></b></font></p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Domestic market</font></font></p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">786,854 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">790,225 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">430,687 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">545,927 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Foreign market</font></font></p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">639,403 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">950,145 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">57,502 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">80,434 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Estimated losses on doubtful debts</font></font></p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(125,055)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(114,172)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(97,850)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(88,518)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,301,202 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,626,198 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">390,339 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">537,843 </font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Related parties (Note 17 - b)</font></font></p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">105,107 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">107,443 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">660,030 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">632,645 </font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,406,309 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,733,641 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,050,369 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,170,488 </font></b></font></p></td>
 </tr>
<tr style="height:4.5pt;">
  <td nowrap width=45% style="background:white;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other receivables</font></b></font></p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Dividends receivable (*) (Note 17 - b)</font></font></p></td>
 <td nowrap width=11% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">31,535 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">717,595 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">104,552 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">774,147 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Employees liabilities</font></font></p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">27,093 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">35,267 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17,953 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">22,237 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other receivables</font></font></p></td>
 <td nowrap width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">23,015 </font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">35,962 </font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16,200 </font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">25,832 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">81,643 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">788,824 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">138,705 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">822,216 </font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=45% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 2.25pt double;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,487,952 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 2.25pt double;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,522,465 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 2.25pt double;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,189,074 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 2.25pt double;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,992,704 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(*) Reversal of dividends of the jointly controlled entity Nacional Min&#233;rios S.A., as mentioned in note 7 c.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The breakdown of gross trade receivables from third parties is as follows:</font></font></font></p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=41% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Falling due</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">1,144,459 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">1,339,481 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">328,281 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">373,190 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Overdue until 180 days </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">156,294 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">216,392 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">58,067 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">90,165 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Overdue above 180 days</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">125,504 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">184,497 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">101,841 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">163,006 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,426,257 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,740,370 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">488,189 </font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">626,361 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">In order to meet the needs of some customers in the domestic market, related to the extension of the payment term for billing of steel, in common agreement with CSN&#8217;s internal commercial policy and maintenance of its very short-term receipts (up to 7 days), at the request of the customer, transactions are carried out for assignment of receivables without co-obligation negotiated between the customer and banks with common relationship, where CSN assigns the trade notes/bills that it issues to the banks with common relationship.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Due to the characteristics of the transactions for assignment of receivables without co-obligation, after assignment of the customer&#8217;s trade notes/bills and receipt of the funds from the closing of each transaction, CSN settles the trade receivables and becomes entirely free of the credit risk on the transaction. This transaction totals R$252,010 as of September 30, 2014 (R$386,732 as of December 31, 2013), less the trade receivables.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The changes in the Company&#8217;s allowance for doubtful debts are as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:115%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=41% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Opening balance</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(114,172)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(111,532)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(88,518)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(86,391)</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Allowance for losses on trade receivables </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,936)</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(17,988)</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(13,093)</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(13,902)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Recovery of receivables</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,053 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">15,348 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,761 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">11,775 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=41% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Closing balance</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(125,055)</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(114,172)</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(97,850)</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(88,518)</font></b></font></p></td>
 </tr>
</table></div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">34</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_36"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004322.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">5.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">INVENTORIES</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:115%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=29% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=29% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Finished products</font></font></p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,177,260 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">743,831 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">972,303 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">529,068 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=29% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Work in process</font></font></p></td>
 <td nowrap width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">900,382 </font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">650,311 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">767,061 </font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">550,227 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Raw materials</font></font></p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">731,583 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">714,365 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">382,034 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">436,283 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Storeroom supplies </font></font></p></td>
 <td nowrap width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">986,354 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,003,473 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">859,645 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">877,944 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=29% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Iron ore</font></font></p></td>
 <td nowrap width=16% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">160,571 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">139,275 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">160,571 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">139,275 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=29% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Advances to suppliers</font></font></p></td>
 <td align=right nowrap width=16% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">6,669 </font></font></p></td>
 <td align=right nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">11,915 </font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=16% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,627 </font></font></p></td>
 <td align=right nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,859 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=29% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(-) Estimated losses</font></font></p></td>
 <td align=right nowrap width=16% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(106,435)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(102,185)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=16% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(83,173)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(83,426)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=29% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=16% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,856,384 </font></b></font></p></td>
 <td align=right nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,160,985 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=16% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,064,068 </font></b></font></p></td>
 <td align=right nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,459,230 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Changes in the allowance for inventory losses are as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=44% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=44% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=44% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Opening balance</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(102,185)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(108,160)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(83,426)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(90,344)</font></b></font></p></td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=44% style="background:white;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Allowance for/reversals of slow-moving inventories <br>and obsolescence</font></font></p></td>
 <td nowrap width=3% style="background:white;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,250)</font></font></p></td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,975 </font></font></p></td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">253 </font></font></p></td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,918 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=44% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Closing balance</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(106,435)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(102,185)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(83,173)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(83,426)</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">As of September 30, 2014, the Company has long-term iron ore inventories amounting to R$144,483, classified in other non-current assets (R$144,483 as of December 31, 2013), as described in note 6.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">6.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">OTHER CURRENT AND NON-CURRENT ASSETS</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The group of other current and non-current assets is comprised as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap width=19% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td colspan=3 nowrap width=17% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=17% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td nowrap width=2% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=16% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Judicial deposits (Note 15)</font></font></p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">546,071 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">693,714 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">499,849 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">650,463 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Credits with the PGFN (*)</font></font></p></td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">79,394 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">88,921 </font></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">79,394 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">88,921 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Recoverable taxes (**)</font></font></p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">518,717 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">480,495 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">162,825 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">112,788 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">361,400 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">298,279 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">97,049 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">94,342 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Prepaid expenses</font></font></p></td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">27,436 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">37,369 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">34,495 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">38,117 </font></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">15,076 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">27,394 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">16,365 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">18,600 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Actuarial asset - related party (Note 17 b)</font></font></p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">97,051 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">97,051 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">96,665 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">96,665 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Derivative financial instruments (Note 11 I)</font></font></p></td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">147,075 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,681 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,879 </font></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=27% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Securities held for trading (Note 11 I)</font></font></p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">20,390 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,906 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">13,976 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,041 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Ore inventory (Note 5)</font></font></p></td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">144,483 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">144,483 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">144,483 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">144,483 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Northeast Investment Fund (FINOR)</font></font></p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,452 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,452 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,452 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,452 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other receivables (Note 11 I)</font></font></p></td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">893 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,970 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,543 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,631 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Loans with related parties (Note 17 b)</font></font></p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">533,182 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">147,273 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">99,522 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">603,862 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">112,643 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">46,722 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">32,427 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">237,710 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Other receivables from related parties (Note 17 b)</font></font></p></td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,982 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">15,658 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">11,655 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">18,129 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">21,575 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">16,180 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">141,871 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">155,932 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other</font></font></p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">19,910 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">22,538 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,836 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">15,959 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,529 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">15,649 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,281,692 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">722,920 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,199,677 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,835,325 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">524,670 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">395,616 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,132,627 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,521,848 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=27% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(*) Refers to the excess judicial deposit originated by the 2009 REFIS (Tax Debt Refinancing Program).</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:115%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(**) Refers mainly to taxes on revenue (PIS/COFINS) and State VAT (ICMS) on the acquisition of fixed assets which will be recovered over a 48-month period, and income tax and social contribution for offset.</font></font></font></p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">35</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_37"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004323.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">7.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">INVESTMENTS</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The information related to the description of activities of subsidiaries, jointly controlled entities, associates and other investments did not have changes in relation to that disclosed in the Company's financial statements as of December 31, 2013 and, accordingly, the Company decided not to repeat it in the condensed interim financial statements as of September 30, 2014.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">a)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Direct equity interests in subsidiaries, jointly controlled entities, joint operations and associates</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=15% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:7pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=2%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:#000000 1px solid;">&nbsp;</td>
 <td nowrap width=1% style="border-bottom:#000000 1px solid;">&nbsp;</td>
 <td nowrap width=5% style="border-bottom:#000000 1px solid;">&nbsp;</td>
 <td nowrap width=1% style="border-bottom:#000000 1px solid;">&nbsp;</td>
 <td nowrap width=6% style="border-bottom:#000000 1px solid;">&nbsp;</td>
 <td nowrap width=1% style="border-bottom:#000000 1px solid;">&nbsp;</td>
 <td nowrap width=6% style="border-bottom:#000000 1px solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:7pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=1% style="border-bottom:#000000 1px solid;">&nbsp;</td>
 <td nowrap width=6% style="border-bottom:#000000 1px solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:7pt;">09/30/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap rowspan=4 width=15% style="border-bottom:black 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Companies</font></b></font></p></td>
 <td nowrap width=2%>&nbsp;</td>
 <td colspan=3 nowrap width=13%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Number of </font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=2%>&nbsp;</td>
 <td nowrap width=6%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=5%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=2%>&nbsp;</td>
 <td colspan=3 nowrap width=13%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">shares held by CSN</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">%</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Profit</font></b></font></p></td>
 <td nowrap width=2%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">%</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=5%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Profit</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=2%>&nbsp;</td>
 <td colspan=3 nowrap width=13% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">in units)</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Direct equity</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Shareholders'</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">(loss)</font></b></font></p></td>
 <td nowrap width=2%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Direct equity</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=5%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>&nbsp;</td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Shareholders'</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6%>

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">(loss)</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=2%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Common</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Preferred</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">interest</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Assets</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Liabilities</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">equity</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">for the period</font></b></font></p></td>
 <td nowrap width=2%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">interest</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Assets</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">Liabilities</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">equity</font></b></font></p></td>
 <td nowrap width=1%>&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:7pt;">for the period</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Subsidiaries</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=5% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Islands VII Corp.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20,001,000 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">7,158,114 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">7,608,217 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(450,103)</font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">245,117 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">7,958,296 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">8,653,517 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(695,221)</font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(309,117)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Islands VIII Corp.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,501,000 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(183)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">16,236 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">16,236 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(28,975)</font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Islands IX Corp.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">3,000,000 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,002,577 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,000,741 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,836 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(133)</font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">981,698 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">979,730 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,968 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">77 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Islands X Corp.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,000 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">56,471 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(56,451)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(3,659)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">46 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">52,838 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(52,792)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(4,782)</font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Islands XI Corp.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">50,000 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,848,018 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,839,933 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">8,085 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">145 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,796,485 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,788,545 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">7,940 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">744 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Islands XII Corp.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,540 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,865,675 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,452,931 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(587,256)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(111,941)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,868,122 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,343,437 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(475,315)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(136,858)</font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">International Investment Fund </font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(28)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:6pt;">CSN Minerals S.L.U.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">131,649,926 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,349,141 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">264 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,348,877 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(208,053)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,558,786 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,856 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,556,930 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">491,807 </font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:6pt;">CSN Export Europe, S.L.U.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">35,924,748 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">962,759 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">65 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">962,694 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20,850 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">942,194 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">350 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">941,844 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">95,858 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:6pt;">CSN Metals S.L.U.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">256,951,582 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,508,789 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">885 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,507,904 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">58,579 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,450,763 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,438 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,449,325 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">121,063 </font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Americas S.L.U.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">151,877,946 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,965,792 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,545 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,964,247 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(36,237)</font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,995,959 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">13,962 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,981,997 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">165,519 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:6pt;">CSN Steel S.L.U.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">454,072,527 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,634,551 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">424,651 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,209,900 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(23,320)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,714,157 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">435,831 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,278,326 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">65,266 </font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Sepetiba Tecon S.A.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">254,015,052 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">369,608 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">133,942 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">235,666 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">16,524 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">324,698 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">81,973 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">242,725 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">37,657 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Minera&#231;&#227;o Nacional S.A.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">999,999 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,090 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">18 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,072 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">59 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,067 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">15 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,052 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">36 </font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Florestal Nacional S.A.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(46,509)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Estanho de Rond&#244;nia S.A.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">34,236,306 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">33,528 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">18,573 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">14,955 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(9,537)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">34,189 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,697 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">24,492 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(1,150)</font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Cia Metalic Nordeste</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">92,459,582 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">183,717 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">42,405 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">141,312 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">196 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">182,845 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">41,730 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">141,115 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,082 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Companhia Metal&#250;rgica Prada</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">675,317 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">640,778 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">451,811 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">188,967 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(74,332)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">771,436 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">465,032 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">306,404 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(13,544)</font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Cimentos S.A.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">3,734,582,665 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">100.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,066,198 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">89,330 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">976,868 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">66,619 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,012,370 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">84,651 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">927,719 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">42,728 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Congonhas Min&#233;rios S.A.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">64,610,862 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,058,113 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,070,958 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(12,845)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(4,662)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,996,614 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,004,797 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(8,183)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(1,377)</font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CSN Energia S.A.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">43,149 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">101,261 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">19,785 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">81,476 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">61,909 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">33,416 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">13,850 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">19,566 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,084 </font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=bottom width=17% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">FTL - Ferrovia Transnordestina Log&#237;stica S.A.</font></font></p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:7pt;">306,241,571 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">88.41 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">560,400 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">260,217 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">300,183 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(2,397)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">88.41 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">542,162 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">239,582 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">302,580 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Companhia Florestal do Brasil</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">21,120,514 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">29,057 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">8,075 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20,982 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(70)</font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">99.99 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20,858 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,567 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">19,291 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(49)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Jointly controlled entities</font></b></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Nacional Min&#233;rios S.A.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">285,040,443 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">60.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,890,522 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">626,543 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,263,979 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">432,646 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">60.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,404,480 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,058,093 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">8,346,387 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">798,666 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">It&#225; Energ&#233;tica S.A.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">253,606,842 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">48.75 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">316,841 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">14,113 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">302,728 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,609 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">48.75 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">341,188 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">18,059 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">323,129 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">6,751 </font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">MRS Log&#237;stica S.A.</font></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">52,414,152 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">40,301,916 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">27.27 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,908,129 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,128,347 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">779,782 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">82,396 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">27.27 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,853,628 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,126,803 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">726,825 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">86,297 </font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=bottom width=17% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CBSI - Companhia Brasileira de Servi&#231;os de Infraestrutura</font></font></p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:7pt;">1,876,146 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">50.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">22,642 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">19,546 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">3,096 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(84)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">50.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20,590 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">16,244 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,346 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,760 </font></font></p></td>
 </tr>
<tr>
  <td colspan=2 width=17%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">CGPAR - Constru&#231;&#227;o Pesada S.A.</font></font></p></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:7pt;">50,000 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">50.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">66,850 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">57,675 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,175 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,115 </font></font></p></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">50.00 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">53,527 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">48,703 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,824 </font></font></p></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">6,451 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Transnordestina Log&#237;stica S.A.</font></font></p></td>
 <td width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">22,714,245 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,397,545 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">62.68 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,073,546 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,767,640 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,305,906 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(19,209)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">77.30 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,286,381 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,961,282 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,325,099 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(35,312)</font></font></p></td>
 </tr>
<tr>
  <td width=15%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Associates</font></b></font></p></td>
 <td width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=2%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap width=6%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Arvedi Metalfer do Brasil</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">27,239,971 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">58,810 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">39,659 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">19,151 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(1,624)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20.00 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">49,800 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">34,441 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">15,359 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(4,883)</font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The number of shares, the balances of assets, liabilities and shareholders' equity, and the amounts of profit or loss for the year refer to the equity interests held by CSN in those companies.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">b)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Events in 2013 and in the third quarter of 2014</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=PT-BR style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=PT-BR style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><u><font lang=PT-BR style="font-size:9pt;layout-grid-mode:both;">Transnordestina Log&#237;stica S.A. (&#8220;TLSA&#8221;)</font></u></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On September 20, 2013, the Company signed (i) An Addendum to the Concession Agreement of the Northeast Railway System, which encompasses the stretches between the cities of S&#227;o Lu&#237;s to Mucuripe, Arrojado to Recife, Itabaiana to Cabedelo, Paula Cavalcante to Macau, and Propri&#225; to Jorge Lins (&#8220;Railway System I&#8221;) and the stretches between the cities of Miss&#227;o Velha to Salgueiro, Salgueiro to Trindade, Trindade to Eliseu Martins, Salgueiro to Porto de Suape, and Miss&#227;o Velha to Porto de Pec&#233;m (&#8220;Railway System II&#8221;), to include therein obligations assumed by TLSA related to the implementation of the Railway System II, as well as the adaptation of the streches that comprise it and (ii) Conduct Adjustment Agreement between ANTT and TLSA, with the purpose of resolving pending items existing between the parties.</font></font></font></p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">36</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On that date the following agreements were also signed (i) a new Shareholders' Agreement of TLSA between CSN, Valec Engenharia, Constru&#231;&#245;es e Ferrovias S.A. (&#8220;Valec&#8221;), Fundo de Desenvolvimento do Nordeste &#8211; FDNE (&#8220;FDNE&#8221;) and BNDES Participa&#231;&#245;es S.A. &#8211; BNDESPAR (&#8220;BNDESPAR&#8221;), with the intervenience of TLSA, whose effectiveness was conditioned to the disproportionate spin-off of TLSA, to be implemented under the terms of ANTT Resolution 4,042/2013; and (ii) Investment Agreement between CSN, Valec and FDNE, with the intervenience of TLSA, which besides other matters, deals with the new budget and the sources of funds that will have to be contributed to TLSA or financed for implementation of the Railway System II.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">At the Extraordinary Shareholders' Meeting held on December 27, 2013, as part of the reorganization process described above, the shareholders approved the disproportionate spin-off of TLSA, completing the segregation of Railway System I and Railway System II.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The purpose of this restructuring was to rebalance economically and financially the Northeast Railway System concession, leading to the extension of the Railway System II operation concession, which could reach 2057, and the segregation of the assets related to Railway System I, which were merged into subsidiary FTL - Ferrovia Transnordestina Log&#237;stica S.A. (&#8220;FTL&#8221;), . (&#8220;FTL&#8221;), with the maintenance of the assets related to Railway System II in TLSA.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">As a result of the spin-off, CSN became the holder of an 88.41% stake in FTL and a 77.30% stake in TLSA.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">In April 2014, the shareholders of Transnordestina approved a capital increase in the amount of R$400,000, through the issuance of 7,278,020 class A preferred shares, which were fully subscribed by the shareholder Valec and paid up through the capitalization of credits from Advances for Future Capital Increase held by such shareholder against Transnordestina. As a result of such increase CSN no longer holds a 77.30% interest, it currently holds 62.68% of the total capital of Transnordestina.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">With the completion of the spin-off, the new Shareholders&#8217; Agreement became effective and control is now jointly held with the shareholders part of the public block, which became the holders of substantive rights to make certain material company decisions and influence the ordinary course of business, as well as CSN, by influencing budgeting, internal policies, capital expenditures, debt, etc., thus typifying the loss of control by CSN, pursuant to specific IFRS criteria.</font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;"> </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Accordingly, as of December 31, 2013, in accordance with IFRS 10, corresponding to CPC 36(R3), CSN reversed all TLSA assets and liabilities and non-controlling interests and started to recognize the remaining stake in this investment at fair value on the date control was lost. After this initial recognition, the investment starts to be measured under the equity method.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The gain generated by the loss of control over the investment recognized in the income statement, in other operating income in 2013, is broken down as follows:</font></font></font></p>

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<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
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  <td nowrap width=5% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=62% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=62% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">(+)</font></font></p></td>
 <td nowrap width=62% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Fair value of the remaining investment</font></font></p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,984,204 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,984,204 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">(-)</font></font></p></td>
 <td nowrap width=62% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Carrying amount of net assets</font></font></p></td>
 <td align=right nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,714,232 </font></font></p></td>
 <td align=right nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,325,099 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">(+)</font></font></p></td>
 <td nowrap width=62% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Carrying amount of non-controlling interests</font></font></p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">389,133 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=62% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Gain on loss of control over Transnordestina</font></font></p></td>
 <td nowrap width=15% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">659,105 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">659,105 </font></b></font></p></td>
 </tr>
<tr style="height:5.25pt;">
  <td nowrap width=5% style="background:white;height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=62% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">(-)</font></font></p></td>
 <td nowrap width=62% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Capitalized interest written off</font></font></p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">185,206 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">185,206 </font></font></p></td>
 </tr>
<tr style="height:5.25pt;">
  <td nowrap width=5% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=62% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=62% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Gain on loss of control over Transnordestina </font></b></font></p></td>
 <td nowrap width=15% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">473,899 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">473,899 </font></b></font></p></td>
 </tr>
<tr style="height:5.25pt;">
  <td nowrap width=5% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=62% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">(-)</font></font></p></td>
 <td nowrap width=62% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Income tax and social contribution</font></font></p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">161,126 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">161,126 </font></font></p></td>
 </tr>
<tr style="height:3.95pt;">
  <td nowrap width=5% style="height:3.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=62% style="height:3.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:3.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:3.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=5% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=62% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Gain on loss of control, net of income tax and social contribution</font></b></font></p></td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">312,773 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">312,773 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(*) the goodwill will be amortized monthly, from the completion of the construction work to the final concession date.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">37</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_39"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004401.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Companhia Metal&#250;rgica Prada (&#8220;Prada&#8221;)</font></u></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0in 0in 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On August 1, 2014, Prada subscribed </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">10,820,723,155 common shares in its subsidiary Companhia Brasileira de Latas (&#8220;CBL&#8221;), which were paid up through capitalization of receivables from Advances for Future Capital Increase held against</font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;"> CBL in the amount of R$108,207. Due to this increase, Prada's interest increased from 59.17% to 95.55% of CBL&#8217;s total capital.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On August 28, 2014, Prada acquired all of the shares issued by CBL held by the minority shareholders representing 4.45% of the capital for R$5, becoming the holder of a 100% interest in CBL&#8217;s capital.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">c)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Changes in investments in subsidiaries, jointly controlled entities, joint ventures, associates, and other investments </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=54% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=54% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:5.2pt;">
  <td nowrap width=54% style="background:#dce6f1;height:5.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Opening balance of investments</font></b></font></p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">13,487,023 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">10,839,787 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27,005,592 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">23,356,506 </font></b></font></p></td>
 </tr>
<tr style="height:13.2pt;">
  <td nowrap width=54% style="background:white;height:13.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Opening balance of impairment loss allowance</font></b></font></p></td>
 <td nowrap width=10% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;height:13.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;height:13.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,231,511)</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:13.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(851,298)</font></b></font></p></td>
 </tr>
<tr style="height:15.55pt;">
  <td nowrap width=54% style="background:#dce6f1;height:15.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Transnordestina Investment balance at 12.31.2012</font></font></p></td>
 <td nowrap width=10% style="background:#dce6f1;height:15.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:15.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,452,074 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:15.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:15.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=54% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Capital increase/acquisition of shares<sup> </sup></font></font></p></td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,147 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">164,941 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">41,874 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">654,692 </font></font></p></td>
 </tr>
<tr style="height:5.85pt;">
  <td nowrap width=54% style="background:#dce6f1;height:5.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Capital reduction<sup> </sup></font></font></p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(153,305)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:6.8pt;">
  <td nowrap width=54% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Merger and partial spin-off of subsidiaries</font></font></p></td>
 <td nowrap width=10% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">132,725 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=54% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Dividends (1)</font></font></p></td>
 <td nowrap width=10% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">453,611 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(85,998)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">386,163 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(139,887)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=54% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Comprehensive income <sup>(2)</sup></font></font></p></td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,239,304)</font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">73,213 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,324,355)</font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">456,978 </font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap width=54% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Share of profits of investees<sup> (3)</sup></font></font></p></td>
 <td nowrap width=10% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">492,718 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">542,711 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">471,007 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,502,450 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=54% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Gain on loss of control over Transnordestina</font></font></p></td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">659,106 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">659,106 </font></font></p></td>
 </tr>
<tr style="height:5.6pt;">
  <td nowrap width=54% style="background:#dce6f1;height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other </font></font></p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,506)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:5.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,809 </font></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap width=54% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Closing balance of investments </font></b></font></p></td>
 <td nowrap width=10% style="border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">13,204,192 </font></b></font></p></td>
 <td nowrap width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">13,487,023 </font></b></font></p></td>
 <td nowrap width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">26,455,426 </font></b></font></p></td>
 <td nowrap width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27,005,592 </font></b></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap width=54% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Closing balance of impairment loss allowance</font></b></font></p></td>
 <td nowrap width=10% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,106,656)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,231,511)</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">1.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On March 28, 2014, the Annual General Meeting of the jointly controlled entity Nacional Min&#233;rios S.A. decided to allocate fully the profit (loss) for 2012 to the Investment Reserve and Contingencies Reserve accounts. In view of this decision of the general meeting, the company reversed the dividends receivable in the amount of R$484,946 that had been recorded according to NAMISA's management proposal and that were not approved by such meeting.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">2.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Refers to the mark-to-market of investments classified as available for sale and translation to the reporting currency of the foreign investments, the functional currency of which is not the Brazilian reais. </font></font></font></p>

<p style="line-height:115%;margin:0cm;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">3.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Below is the reconciliation of the share of profit of jointly controlled entities with the share of profit of investees recognized in the balance sheet after the reclassifications:</font></font></font></p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=55% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=21% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=21% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td align=right nowrap width=4% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=20% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Share of profit of jointly controlled entities</font></b></font></p></td>
 <td align=right nowrap width=21% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">492,718 </font></b></font></p></td>
 <td align=right nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=20% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">542,711 </font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Reclassifications</font></b></font></p></td>
 <td align=right nowrap width=21% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">To cost of sales</font></font></p></td>
 <td align=right nowrap width=21% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(124,944)</font></font></p></td>
 <td align=right nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=20% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(137,418)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">To finance costs</font></font></p></td>
 <td align=right nowrap width=21% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(493,282)</font></font></p></td>
 <td align=right nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(624,096)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">To taxes</font></font></p></td>
 <td align=right nowrap width=21% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">210,197 </font></font></p></td>
 <td align=right nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=20% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">258,914 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other</font></b></font></p></td>
 <td align=right nowrap width=21% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Elimination of Transnordestina&#8217;s profit </font></font></p></td>
 <td align=right nowrap width=21% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=20% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">120,102 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other</font></font></p></td>
 <td align=right nowrap width=21% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,075)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=55% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Adjusted share of profit of investees</font></b></font></p></td>
 <td align=right nowrap width=21% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">84,689 </font></b></font></p></td>
 <td align=right nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=20% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">158,138 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">38</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_40"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004402.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div></div>

<p style="line-height:115%;margin:0cm 0cm 0pt 18pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">d)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Investments in joint ventures and joint operations</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The balances of the balance sheets and income statements of the companies under shared control are stated below: </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap valign=bottom width=28%>&nbsp;</td>
 <td nowrap valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=1% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=1% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=1% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=1% style="border-bottom:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=5%>&nbsp;</td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">09/30/2014</font></b></font></p></td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5%>&nbsp;</td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5%>&nbsp;</td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5%>&nbsp;</td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5%>&nbsp;</td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=28% style="border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Nacional Min&#233;rios (*)</font></b></font></p></td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">It&#225; Energ&#233;tica</font></b></font></p></td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">MRS Log&#237;stica</font></b></font></p></td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">CBSI</font></b></font></p></td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td width=5% style="border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">CGPAR </font></b></font></p></td>
 <td width=1% style="border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Transnordestina Log&#237;stica </font></b></font></p></td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Nacional Min&#233;rios (*)</font></b></font></p></td>
 <td valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">It&#225; Energ&#233;tica</font></b></font></p></td>
 <td valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">MRS Log&#237;stica</font></b></font></p></td>
 <td valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">CBSI</font></b></font></p></td>
 <td valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">CGPAR </font></b></font></p></td>
 <td valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Transnordestina Log&#237;stica </font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Equity interest (%)</font></b></font></p></td>
 <td valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">60.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">48.75%</font></b></font></p></td>
 <td align=right valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27.27%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">50.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">50.00%</font></b></font></p></td>
 <td align=right valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">62.68%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">60.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">48.75%</font></b></font></p></td>
 <td align=right valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27.27%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">50.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">50.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%>&nbsp;</td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">77.30%</font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Balance sheet</font></b></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Current assets</font></b></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Cash and cash equivalents</font></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">5,089,351 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">25,009 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">345,058 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,844 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">30,124 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">687,648 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,815,211 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">45,894 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">471,079 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">12,897 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">28,582 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">195,830 </font></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Other current assets</font></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">925,789 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">15,044 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">603,513 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">36,996 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">32,903 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">50,862 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,135,192 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">16,682 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">630,121 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">21,407 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">33,055 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">39,183 </font></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Total current assets</font></b></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,015,140 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">40,053 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">948,571 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">38,840 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">63,027 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">738,510 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">5,950,403 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">62,576 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">1,101,200 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">34,304 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">61,637 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">235,013 </font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Non-current assets</font></b></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Long-term assets</font></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,052,009 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">32,883 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">448,238 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">83 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">35 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">247,264 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">8,391,119 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">34,029 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">414,624 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">11 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">229,280 </font></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:6pt;">Investments, PP&amp;E and intangible assets</font></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,410,426 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">576,994 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">5,600,516 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">6,360 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">70,637 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">5,513,602 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,356,909 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">603,268 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">5,281,642 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">6,872 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">45,405 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">5,080,841 </font></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Total non-current assets</font></b></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">10,462,435 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">609,877 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,048,754 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,443 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">70,672 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">5,760,866 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">9,748,028 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">637,297 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">5,696,266 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,876 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">45,416 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">5,310,121 </font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Total assets</font></b></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">16,477,575 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">649,930 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,997,325 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">45,283 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">133,699 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,499,376 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">15,698,431 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">699,873 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,797,466 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">41,180 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">107,053 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">5,545,134 </font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Current liabilities</font></b></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Borrowings and financing</font></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">383,497 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">363,272 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">27,601 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">164,841 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">42,247 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">333,796 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20,053 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">97,681 </font></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Other current liabilities</font></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">297,602 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">28,949 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">787,715 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">34,657 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">46,699 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">90,946 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,318,884 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">35,174 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">841,681 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">22,437 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">36,733 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">51,901 </font></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Total current liabilities</font></b></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">681,099 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">28,949 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">1,150,987 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">34,657 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">74,300 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">255,787 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">1,361,131 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">35,174 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">1,175,477 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">22,437 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">56,786 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">149,582 </font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Non-current liabilities</font></b></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Borrowings and financing</font></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">30,695 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,556,288 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">41,050 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,156,777 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">339,961 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,566,412 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">21,664 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">3,479,420 </font></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Other non-current liabilities</font></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">325,816 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">430,501 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">4,434 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">3,229 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">86,694 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,870 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">390,228 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">10,050 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">18,956 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">201,900 </font></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Total non-current liabilities</font></b></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">356,511 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">2,986,789 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">4,434 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">41,050 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">4,160,006 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">426,655 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">1,870 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">2,956,640 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">10,050 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">40,620 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">3,681,320 </font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Shareholders&#8217; equity</font></b></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">15,439,965 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">620,981 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">2,859,549 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,192 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">18,349 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">2,083,583 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">13,910,645 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">662,829 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">2,665,349 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">8,693 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">9,647 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">1,714,232 </font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:6pt;">Total liabilities and shareholders&#8217; equity</font></b></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">16,477,575 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">649,930 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,997,325 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">45,283 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">133,699 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,499,376 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">15,698,431 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">699,873 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">6,797,466 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">41,180 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">107,053 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">5,545,134 </font></b></font></p></td>
 </tr>
<tr>
  <td valign=bottom width=28%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right colspan=5 nowrap valign=bottom width=17% style="border-bottom:windowtext 1pt solid;">

   <font><p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></font>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font><font face=arial,sans-serif><b><font style="font-size:6pt;">01/01/2014 to 09/30/2014</font></b></font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">01/01/2013 to 09/30/2013</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="border-top:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Nacional Min&#233;rios (*)</font></b></font></p></td>
 <td align=right valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">It&#225; Energ&#233;tica</font></b></font></p></td>
 <td align=right valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">MRS Log&#237;stica</font></b></font></p></td>
 <td align=right valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">CBSI</font></b></font></p></td>
 <td align=right valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">CGPAR </font></b></font></p></td>
 <td align=right width=1%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Transnordestina Log&#237;stica </font></b></font></p></td>
 <td align=right valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Nacional Min&#233;rios (*)</font></b></font></p></td>
 <td align=right valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">It&#225; Energ&#233;tica</font></b></font></p></td>
 <td align=right valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">MRS Log&#237;stica</font></b></font></p></td>
 <td align=right valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">CBSI</font></b></font></p></td>
 <td align=right valign=bottom width=1% style="border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">CGPAR </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="border-bottom:windowtext 1pt solid;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Equity interest (%)</font></b></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">60.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">48.75%</font></b></font></p></td>
 <td align=right valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">27.27%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">50.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">50.00%</font></b></font></p></td>
 <td align=right valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">62.68%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">60.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">48.75%</font></b></font></p></td>
 <td align=right valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">27.27%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">50.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">50.00%</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Statements of Income</font></b></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Net revenue</font></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,218,791 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">104,222 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,320,733 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">111,898 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">204,572 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">14 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,873,759 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">111,537 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,194,355 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">76,869 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">118,638 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:6pt;">Cost of sales and services</font></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(970,154)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(64,304)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(1,563,603)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(105,780)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(171,723)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(1,026,348)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(58,204)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(1,428,344)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(67,697)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(99,298)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Gross profit</font></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">248,637 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">39,918 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">757,130 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">6,118 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">32,849 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">14 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">847,411 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">53,333 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">766,011 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">9,172 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">19,340 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Operating (expenses) income</font></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(169,508)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(34,295)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(187,972)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(6,397)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(3,192)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(19,345)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(178,363)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(33,090)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(202,826)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(4,322)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(37)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Finance income (costs), net</font></font></p></td>
 <td valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,058,652 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">2,562 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(109,858)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">170 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(899)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(11,318)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,150,359 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">705 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(77,750)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">477 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">217 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td colspan=2 valign=bottom width=29% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Income before income tax and social contribution</font></font></p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,137,781 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">8,185 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">459,300 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(109)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">28,758 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(30,649)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">1,819,407 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">20,948 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">485,435 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">5,327 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">19,520 </font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td colspan=2 valign=bottom width=29%>

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:6pt;">Current and deferred income tax and social contribution</font></font></p></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(416,704)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(2,832)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(157,146)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(59)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(10,529)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(488,297)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(7,098)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(168,976)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(1,808)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%>

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:6pt;">(6,619)</font></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
<tr>
  <td valign=bottom width=28% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">Profit for the period</font></b></font></p></td>
 <td valign=bottom width=1% style="background:#dbe5f1;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">721,077 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">5,353 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">302,154 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">(168)</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">18,229 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">(30,649)</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">1,331,110 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">13,850 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">316,459 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">3,519 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=5% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:6pt;">12,901 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 <td align=right nowrap valign=bottom width=5%><font><font style="font-size:6pt;">&nbsp;</font></font></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(*) Refer to the consolidated balances and profit or loss of Nacional Min&#233;rios S. A. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The balance sheet and income statement amounts refer to 100% of the companies&#8217; results.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">39</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_41"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<font face="Times New Roman"><div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004403.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div><font lang=PT-BR style="font-size:10pt;"><br clear=all></font></font>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">8.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">PROPERTY, PLANT AND EQUIPMENT</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The information related to property, plant and equipment did not have significant changes in relation to that disclosed in the Company's financial statements as of December 31, 2013.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.35pt;">
  <td nowrap valign=bottom width=21% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=8% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=24% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=12% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=6% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=5% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;height:11.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:27.2pt;">
  <td nowrap valign=bottom width=21% style="background:white;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=8% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Land</font></b></font></p></td>
 <td width=2% style="background:white;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 width=13% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Buildings and infrastructure</font></b></font></p></td>
 <td width=9% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Machinery, equipment and facilities</font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="background:white;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 width=8% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Furniture and fixtures</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 width=13% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Construction in progress</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=9% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other (*)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.2pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap width=21% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at December 31, 2013</font></b></font></p></td>
 <td nowrap valign=bottom width=8% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">213,301 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">1,826,519 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">7,782,833 </font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=8% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">34,127 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=13% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">4,771,635 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">283,011 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">14,911,426 </font></b></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=21% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cost</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">213,301 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2,196,994 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">12,968,200 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">151,479 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=13% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">4,771,635 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">627,845 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">20,929,454 </font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap width=21% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Accumulated depreciation</font></font></p></td>
 <td nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(370,475)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(5,185,367)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(117,352)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=13% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(344,834)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(6,018,028)</font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap width=21% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at December 31, 2013</font></b></font></p></td>
 <td nowrap valign=bottom width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">213,301 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">1,826,519 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">7,782,833 </font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">34,127 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">4,771,635 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">283,011 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">14,911,426 </font></b></font></p></td>
 </tr>
<tr style="height:6.8pt;">
  <td nowrap valign=bottom width=21% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Effect of foreign exchange differences</font></font></p></td>
 <td nowrap valign=bottom width=8% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(2,085)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(5,911)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(19,896)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=8% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(142)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=13% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(625)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=9% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">379 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(28,280)</font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap valign=bottom width=21% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Acquisitions</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">52 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">986 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">223,744 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=8% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">4,839 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=13% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">1,027,200 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=9% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">35,359 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,292,180 </font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap valign=bottom width=21% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Capitalized interest (Notes 23 and 29)</font></font></p></td>
 <td nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=13% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">123,755 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">123,755 </font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap valign=bottom width=21% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Write-offs</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(49)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(109)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(6,936)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=8% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(12)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=13% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(5,701)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=9% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(128)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(12,935)</font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap valign=bottom width=21% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Depreciation </font></font></p></td>
 <td nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(57,532)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(814,183)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(4,926)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=13% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(25,929)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(902,570)</font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap valign=bottom width=21% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Transfers to other asset categories </font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">3,127 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">532,670 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2,977,328 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=8% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">1,019 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=13% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(3,524,127)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=9% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">9,983 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap valign=bottom width=21% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Transfers to intangible assets</font></font></p></td>
 <td nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=13% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(86,381)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(922)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(87,303)</font></font></p></td>
 </tr>
<tr style="height:4.9pt;">
  <td nowrap valign=bottom width=21% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Other </font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">89,960 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=8% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">3 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=13% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(30,284)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=9% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(14,343)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:4.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">45,336 </font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap width=21% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at September 30, 2014</font></b></font></p></td>
 <td nowrap valign=bottom width=8% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">214,346 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">2,296,623 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">10,232,850 </font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=8% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">34,908 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=13% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">2,275,472 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">287,410 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">15,341,609 </font></b></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap width=21% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cost</font></font></p></td>
 <td nowrap valign=bottom width=8% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">214,346 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2,725,507 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">16,186,651 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=8% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">155,705 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=13% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2,275,472 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=9% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">652,413 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">22,210,094 </font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap width=21% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Accumulated depreciation</font></font></p></td>
 <td nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(428,884)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(5,953,801)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=8% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(120,797)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=13% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=9% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(365,003)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(6,868,485)</font></font></p></td>
 </tr>
<tr style="height:12.1pt;">
  <td nowrap width=21% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at September 30, 2014</font></b></font></p></td>
 <td nowrap valign=bottom width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">214,346 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">2,296,623 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">10,232,850 </font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">34,908 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">2,275,472 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">287,410 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">15,341,609 </font></b></font></p></td>
 </tr>
<tr>
  <td width=21%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=11%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=6%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=10%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(*) In consolidated, refer basically to railway assets, such as yards, tracks and railway sleepers.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">40</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_42"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<font face="Times New Roman"><div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004404.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div><font lang=PT-BR style="font-size:10pt;"><br clear=all></font></font>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.05pt;">
  <td nowrap valign=bottom width=20% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=14% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=5% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:white;height:11.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:37.1pt;">
  <td nowrap valign=bottom width=20% style="background:white;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 width=10% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Land</font></b></font></p></td>
 <td width=1% style="background:white;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=4 width=11% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Buildings and infrastructure</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=9% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Machinery, equipment and facilities</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=9% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Furniture and fixtures</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Construction in progress</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other (*)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=11% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:37.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 </tr>
<tr style="height:9.7pt;">
  <td nowrap width=20% style="background:#dce6f1;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at December 31, 2013</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">107,475 </font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td colspan=4 nowrap valign=bottom width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">1,225,222 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">6,355,738 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">26,409 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">4,345,142 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">358,109 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:9.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">12,418,095 </font></b></font></p></td>
 </tr>
<tr style="height:8.8pt;">
  <td nowrap width=20% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cost</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">107,475 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap valign=bottom width=11% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">1,390,013 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">10,423,838 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">129,930 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">4,345,142 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">467,481 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:8.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16,863,879 </font></font></p></td>
 </tr>
<tr style="height:11.8pt;">
  <td nowrap width=20% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Accumulated depreciation</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=4 nowrap valign=bottom width=11% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(164,791)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(4,068,100)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(103,521)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(109,372)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,445,784)</font></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap width=20% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at December 31, 2013</font></b></font></p></td>
 <td nowrap width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">107,475 </font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap valign=bottom width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">1,225,222 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">6,355,738 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">26,409 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">4,345,142 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">358,109 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">12,418,095 </font></b></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap valign=bottom width=20% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Acquisitions</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=4 nowrap valign=bottom width=11% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">280 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">179,017 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">4,275 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">880,553 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">28,268 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,092,393 </font></font></p></td>
 </tr>
<tr style="height:11.8pt;">
  <td nowrap valign=bottom width=20% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Capitalized interest (Notes 23 and 29)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap valign=bottom width=11% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">123,755 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">123,755 </font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=20% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Write-offs</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=4 nowrap valign=bottom width=11% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(6,263)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(6)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(5,700)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(1)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(11,970)</font></font></p></td>
 </tr>
<tr style="height:7.1pt;">
  <td nowrap valign=bottom width=20% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Depreciation </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap valign=bottom width=11% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(35,700)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(692,907)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(3,535)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(9,200)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:7.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(741,342)</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=20% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Transfers to other asset categories </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2,706 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=4 nowrap valign=bottom width=11% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">526,490 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2,725,854 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">918 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(3,081,981)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(173,987)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=20% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Transfers to intangible assets</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap valign=bottom width=11% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(85,701)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(85,701)</font></font></p></td>
 </tr>
<tr style="height:8.6pt;">
  <td nowrap valign=bottom width=20% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=4 nowrap valign=bottom width=11% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">110,351 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(27,080)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(15,196)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:8.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">68,077 </font></font></p></td>
 </tr>
<tr style="height:4.1pt;">
  <td nowrap width=20% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at September 30, 2014</font></b></font></p></td>
 <td nowrap width=2% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">110,181 </font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap valign=bottom width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">1,716,292 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">8,671,790 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">28,063 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">2,148,988 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">187,993 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:4.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">12,863,307 </font></b></font></p></td>
 </tr>
<tr style="height:11.8pt;">
  <td nowrap width=20% style="background:#dbe5f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cost</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">110,181 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dbe5f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td colspan=4 nowrap valign=bottom width=11% style="background:#dbe5f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">1,918,856 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">13,411,310 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">133,985 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2,148,988 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">304,345 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">18,027,665 </font></font></p></td>
 </tr>
<tr style="height:11.8pt;">
  <td nowrap width=20% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Accumulated depreciation</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap valign=bottom width=11% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(202,564)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(4,739,520)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(105,922)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(116,352)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(5,164,358)</font></font></p></td>
 </tr>
<tr style="height:11.3pt;">
  <td nowrap width=20% style="background:#dbe5f1;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at September 30, 2014</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">110,181 </font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td colspan=4 nowrap valign=bottom width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">1,716,292 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">8,671,790 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">28,063 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">2,148,988 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">187,993 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:11.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">12,863,307 </font></b></font></p></td>
 </tr>
<tr>
  <td width=20%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=10%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=7%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=11%>&nbsp;</td>
 </tr>
</table></div></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(*) includes leasehold improvements, vehicles, hardware, mines and ore bodies and replacement storeroom supplies.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">41</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_43"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<font face="Times New Roman"><div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004405.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div><font lang=PT-BR style="font-size:10pt;"><br clear=all></font></font>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The breakdown of the projects comprising construction in progress is as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:10.6pt;">
  <td nowrap valign=bottom width=16% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=28% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=4% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:10.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:17.45pt;">
  <td nowrap valign=bottom width=16% style="background:white;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=28% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Project objective</font></b></font></p></td>
 <td width=3% style="background:white;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=7% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Start date</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="background:white;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=10% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Completion date</font></b></font></p></td>
 <td valign=bottom width=4% style="background:white;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=11% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td width=3% style="background:white;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=12% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:9pt;">
  <td nowrap width=16% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Logistics</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=28% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=28% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Equalization of Berth 301. </font></font></p></td>
 <td width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2012</font></font></p></td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2014</font></font></p></td>
 <td nowrap width=4% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">151,932 </font></font></p></td>
 </tr>
<tr style="height:4.45pt;">
  <td nowrap width=16% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td width=28% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Current investments for maintenance of current operations. </font></font></p></td>
 <td valign=bottom width=3% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">70,531 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">231,832 </font></font></p></td>
 </tr>
<tr style="height:4.45pt;">
  <td nowrap width=16% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=3% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td width=28% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;text-indent:8.05pt;">&nbsp;</p></td>
 <td valign=bottom width=3% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=7% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=3% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=10% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=4% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=11% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">70,531</font></b></font></p></td>
 <td nowrap width=3% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=12% style="height:4.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">383,764</font></b></font></p></td>
 </tr>
<tr style="height:9pt;">
  <td nowrap width=16% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td valign=bottom width=28% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Mining</font></b></font></p></td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=28% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Expansion of Casa de Pedra Mine capacity production. </font></font></p></td>
 <td valign=bottom width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2007</font></font></p></td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2015/2016</font></font></p></td>
 <td nowrap width=4% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><sup><font color=black face=arial,sans-serif><font style="font-size:8pt;">(1)</font></font></sup></p></td>
 <td nowrap width=11% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">524,515 </font></font></p></td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">1,090,568 </font></font></p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td valign=bottom width=28% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Expansion of TECAR&#8217;s export capacity. </font></font></p></td>
 <td valign=bottom width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2009</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2017</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><sup><font color=black face=arial,sans-serif><font style="font-size:8pt;">(2)</font></font></sup></p></td>
 <td nowrap width=11% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">419,264 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">404,374 </font></font></p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=28% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Current investments for maintenance of current operations. </font></font></p></td>
 <td valign=bottom width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">65,941 </font></font></p></td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">42,866 </font></font></p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td valign=bottom width=28% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=3% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">1,009,720</font></b></font></p></td>
 <td nowrap width=3% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dbe5f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">1,537,808</font></b></font></p></td>
 </tr>
<tr style="height:3.05pt;">
  <td nowrap width=16% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=28% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=3% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:3.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:17.45pt;">
  <td nowrap width=16% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Steel</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td valign=bottom width=28% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Construction of a long steel plant to produce rebar and machine wire. </font></font></p></td>
 <td valign=bottom width=3% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2008</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2014</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><sup><font color=black face=arial,sans-serif><font style="font-size:8pt;">(3)</font></font></sup></p></td>
 <td nowrap width=11% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">149,855 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:17.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">1,592,016 </font></font></p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=28% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Implementation of the AF#3&#8217;s gas pressure recovery. </font></font></p></td>
 <td valign=bottom width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2006</font></font></p></td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2014</font></font></p></td>
 <td nowrap width=4% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">336 </font></font></p></td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">74,337 </font></font></p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td valign=bottom width=28% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Expansion of the service center/Mogi. </font></font></p></td>
 <td valign=bottom width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2013</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2015</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><sup><font color=black face=arial,sans-serif><font style="font-size:8pt;">(4)</font></font></sup></p></td>
 <td nowrap width=11% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">32,058 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">11,000 </font></font></p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=28% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Current investments for maintenance of current operations. </font></font></p></td>
 <td valign=bottom width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">119,061 </font></font></p></td>
 <td nowrap width=3% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">668,495 </font></font></p></td>
 </tr>
<tr style="height:8.45pt;">
  <td nowrap width=16% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td valign=bottom width=28% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=bottom width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">301,310 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:8.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">2,345,848 </font></b></font></p></td>
 </tr>
<tr style="height:9pt;">
  <td nowrap width=16% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Cement</font></b></font></p></td>
 <td nowrap width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=28% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:9pt;">
  <td nowrap width=16% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td valign=bottom width=28% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Construction of cement plants. </font></font></p></td>
 <td valign=bottom width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2011</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2016</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><sup><font color=black face=arial,sans-serif><font style="font-size:8pt;">(5)</font></font></sup></p></td>
 <td nowrap width=11% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">886,413 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">476,076 </font></font></p></td>
 </tr>
<tr style="height:9pt;">
  <td nowrap width=16% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=28% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Current investments for maintenance of current operations. </font></font></p></td>
 <td valign=bottom width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">7,498 </font></font></p></td>
 <td nowrap width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">28,139 </font></font></p></td>
 </tr>
<tr style="height:8pt;">
  <td nowrap width=16% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td valign=bottom width=28% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td valign=bottom width=3% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">893,911 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">504,215 </font></b></font></p></td>
 </tr>
<tr style="height:9pt;">
  <td colspan=3 nowrap width=47% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total Construction in Progress</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="border-bottom:windowtext 2.25pt double;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">2,275,472 </font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 2.25pt double;height:9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;text-indent:8.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">4,771,635 </font></b></font></p></td>
 </tr>
</table></div>

<p align=left style="line-height:115%;margin:0cm 0cm 0pt;text-align:left;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(1)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Expected date for completion of the Central Plant Stage 1 and Magnetic Separators;</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(2)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">&nbsp;Expected date for completion of the 60 Mtpa stage;</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(3)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Operations started in the first half of 2014, in progress disbursements with commitment balances and gradual increase of the operation ramp-up.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(4)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Expected date for completion of Service Center/Mogi;</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(5)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Expected date for completion of Minas Gerais unit.</font></font></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">42</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_44"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004406.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:-0.55pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">a)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Additions to depreciation, amortization and depletion for the year were distributed as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=19% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=19% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=19% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Production cost</font></font></p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">889,896 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">804,255 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">320,077 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">265,849 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Selling expenses</font></font></p></td>
 <td nowrap width=19% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,755 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,208 </font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,308 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,033 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">General and administrative expenses</font></font></p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,688 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">12,257 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,360 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,294 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">907,339 </font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">822,720 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">325,745 </font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">272,176 </font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other operating expenses (*) </font></font></p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">27,216 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">46,164 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,657 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17,219 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">934,555 </font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">868,884 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">334,402 </font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">289,395 </font></b></font></p></td>
 </tr>
<tr style="height:5.25pt;">
  <td nowrap width=25% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:18pt;">
  <td nowrap width=25% style="height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:18pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=19% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=19% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=19% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Production cost</font></font></p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">734,750 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">666,414 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">266,327 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">221,106 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Selling expenses</font></font></p></td>
 <td nowrap width=19% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,162 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,818 </font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,773 </font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,567 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">General and administrative expenses</font></font></p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">7,018 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,421 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,152 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,297 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">746,930 </font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">677,653 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">270,252 </font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">224,970 </font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other operating expenses (*) </font></font></p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">714 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">21,320 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=19% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">7,171 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=25% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">747,644 </font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">698,973 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">270,252 </font></b></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">232,141 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(*) Refers to the depreciation of unused equipment (see note 22).</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">9.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">INTANGIBLE ASSETS</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The information related to intangible assets did not have significant changes in relation to that disclosed in the Company's financial statements as of December 31, 2013 and, accordingly, the Company decided not to repeat it fully in the condensed interim financial statements as of September 30, 2014.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap valign=bottom width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Goodwill </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Customer relations</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Software</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Rights and permits (*)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Goodwill </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Software</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Rights and permits (*)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at December 31, 2013</font></b></font></p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">407,434 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">381,480 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">67,354 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">109,172 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">965,440 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">13,091 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">63,378 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">76,469 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cost </font></font></p></td>
 <td align=right width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">666,768 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">415,899 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">107,416 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">109,172 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,299,255 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,135 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">89,255 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">103,390 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Accumulated amortization </font></font></p></td>
 <td align=right width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(150,004)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(34,419)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(40,062)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(224,485)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,044)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(25,877)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(26,921)</font></font></p></td>
 </tr>
<tr>
  <td width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Adjustment for accumulated recoverable value </font></font></p></td>
 <td align=right width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(109,330)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(109,330)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at December 31, 2013</font></b></font></p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">407,434 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">381,480 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">67,354 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">109,172 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">965,440 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">13,091 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">63,378 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">76,469 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Effect of foreign exchange differences</font></font></p></td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,437)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(29)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(4,435)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(19,901)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">Acquisitions and expenditures</font></font></p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">610 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">610 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td colspan=2 nowrap valign=bottom width=23% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Transfer of property, plant and equipment</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">17,608 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">69,695 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">87,303 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">16,928 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">68,773 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">85,701 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Amortization </font></font></p></td>
 <td nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(24,830)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,155)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(31,985)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(6,302)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(6,302)</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">Other transactions</font></font></p></td>
 <td nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">114 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">114 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">114 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">114 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at September 30, 2014</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">407,434 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">341,213 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">78,502 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">69,695 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">104,737 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">1,001,581 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">13,091 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">74,118 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">68,773 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">155,982 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">Cost </font></font></p></td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">666,768 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">398,999 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">147,615 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">69,695 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">104,737 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">1,387,814 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,135 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">106,300 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">68,773 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">189,208 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Accumulated amortization </font></font></p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(150,004)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(57,786)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(69,113)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(276,903)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,044)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(32,182)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(33,226)</font></font></p></td>
 </tr>
<tr>
  <td width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Adjustment for accumulated recoverable value </font></font></p></td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(109,330)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">(109,330)</font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Balance at September 30, 2014</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">407,434 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">341,213 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">78,502 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">69,695 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">104,737 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">1,001,581 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">13,091 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">74,118 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">68,773 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">155,982 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(*) Refers to investments in the acquisition of the right to expand the Casa de Pedra mine to 40Mpta.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">43</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_45"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004407.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">10.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">BORROWINGS, FINANCING AND DEBENTURES</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The information related to borrowings, financing and debentures did not have significant changes in relation to that disclosed in the Company's financial statements as of December 31, 2013.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The balances of borrowings, financing and debentures, which are carried at amortized cost, are as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=16% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">Rates p.a. (%)</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 width=16% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">Current liabilities</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 width=16% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">Non-current liabilities</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=16% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">Current liabilities</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=3 width=15% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">Non-current liabilities</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">9/30/2014</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">9/30/2014</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">9/30/2014</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">12/31/2013</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">9/30/2014</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">FOREIGN CURRENCY</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Prepayment</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1% to 3.50%</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">55,587 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">105,874 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,933,009 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,166,615 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">52,711 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">105,874 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,919,133 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,166,615 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Prepayment</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">3.51% to 7.50%</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">268,551 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">207,331 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,580,895 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,276,717 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">139,039 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">343,912 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">6,106,176 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">4,084,099 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Perpetual bonds</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">7.00%</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">3,336 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">3,189 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">2,451,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">2,342,600 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Fixed rate notes</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">4.14 to 10%</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,039,521 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">156,868 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">4,719,437</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">5,505,110</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,129,411 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">19,439 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,470,600</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">2,433,517</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">BNDES/FINAME</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">12,356 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">11,334 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Intercompany</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif><font style="font-size:8.5pt;">6M Libor + 2.25 and 3%</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">62,801 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">737,297 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">840,217</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">110,268</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Other </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1.2% up to 8%</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">136,574 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">49,306 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">371,448 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">442,843 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">49,484 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">1,503,569</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">534,924</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">11,055,789</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">10,733,885</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">1,433,446</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">1,217,856</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">10,336,126</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">7,794,499</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">LOCAL CURRENCY</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">80,584 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">97,044 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">969,406 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">962,684 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">41,856</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">57,759</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">875,216</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">853,379</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">BNDES/FINAME</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8.5pt;">TJLP + 1.5% to 3.2% and 2.5% to 10% fixed rate</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">811,199 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">846,387 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,550,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,932,500 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">811,199</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">846,387</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,550,000</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,932,500</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Debentures</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">105.8% to 111.20% CDI </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">179,998 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">101,330 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">5,345,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">5,345,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">94,444</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">79,302</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">3,345,000</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">3,345,000</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Prepayment</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8.5pt;">106.5% to 110.79% CDI and 8% fixed rate</font></font></p></td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,099,393 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,085,436 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">6,200,218 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">6,200,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,099,393</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,085,436</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">6,200,000</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">6,200,000</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">CCB</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">112.5% CDI</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">130,288</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">591,423</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,842,325</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,338,771</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Intercompany</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">110.79% CDI</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">7,656 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">8,527 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">13,990 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">15,505 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">2,178</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">2,119</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">1,089</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">2,118</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">Other</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">2,178,830</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">2,138,724</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">14,078,614</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">14,455,689</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">2,179,358</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">2,662,426</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">13,813,630</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">13,671,768</font></b></font></p></td>
 </tr>
<tr>
  <td colspan=3 width=29% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">Total borrowings and financing</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">3,682,399</font></b></font></p></td>
 <td align=right width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">2,673,648</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">25,134,403</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">25,189,574</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">3,612,804</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">3,880,282</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">24,149,756</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">21,466,267</font></b></font></p></td>
 </tr>
<tr>
  <td colspan=3 nowrap width=29% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8.5pt;">Transaction costs and issue premiums</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">(24,680)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">(30,841)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">(73,291)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">(85,951)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">(19,166)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">(25,588)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">(62,820)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8.5pt;">(71,607)</font></font></p></td>
 </tr>
<tr>
  <td colspan=3 width=29% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8.5pt;">Total borrowings and financing + transaction costs</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">3,657,719</font></b></font></p></td>
 <td align=right width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">2,642,807</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">25,061,112</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">25,103,623</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">3,593,638</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">3,854,694</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">24,086,936</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8.5pt;">21,394,660</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The balances of prepaid related parties borrowings total R$4,641,837 as of September 30, 2014 (R$2,943,964 as of December 31, 2013) and the balances of Fixed Rate Notes and related parties Bonds total R$2,600,011 (R$2,452,956 as of December 31, 2013), see note 17.</font></font></font></p>

<p align=center style="line-height:115%;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:0cm;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Maturities of borrowings, financing and debentures presented in non-current liabilities</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">As of September 30, 2014, the inflation-adjusted principal of long-term borrowings, financing and debentures by maturity year is as follows:</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=18% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=4% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=16% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=18% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=4% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=20% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2015</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,317,537 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5%</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,362,970 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2016</font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,549,840 </font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10%</font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,856,694 </font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=20% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2017</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,857,024 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">15%</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,670,987 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">15%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2018</font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,214,239 </font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17%</font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,872,641 </font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=20% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2019</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,336,259 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">21%</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,954,622 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=20% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">After 2019</font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,408,504 </font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">22%</font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,431,842 </font></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">31%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=20% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Perpetual bonds</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,451,000 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10%</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=20% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=4% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=18% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">25,134,403 </font></b></font></p></td>
 <td nowrap width=4% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=16% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100%</font></b></font></p></td>
 <td nowrap width=4% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=18% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">24,149,756 </font></b></font></p></td>
 <td nowrap width=4% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100%</font></b></font></p></td>
 </tr>
</table></div>

<div align=left>&nbsp;</div>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">44</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_46"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004408.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:0cm;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Amortizations and new borrowings, financing and debentures </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The table below shows the amortizations and new funding in the current period:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap width=29% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Opening balance</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27,746,430 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">29,304,704 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">25,249,354 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">24,139,992 </font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Funding</font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,630,664 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,697,363 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,892,640 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,363,253 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Amortization</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,278,616)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,300,240)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,985,970)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,991,884)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Loss of control over Transnordestina</font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,180,821)</font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other (*)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,620,353 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,225,424 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,524,550 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,737,993 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Closing balance</font></b></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">28,718,831 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27,746,430 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27,680,574 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">25,249,354 </font></b></font></p></td>
 </tr>
</table></div>

<p align=left style="line-height:115%;margin:0cm 0cm 0pt;text-align:left;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(*) Includes unrealized foreign exchange and monetary variations.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Borrowing and financing contracts with certain financial institutions contain some covenants that are usual in financial agreements in general and the Company is compliant with them as of September 30, 2014.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:0cm;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Debentures</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">7th issue</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">In March 2014 the Company issued 40,000 nonconvertible, unsecured debentures, in single series, with a unit face value of R$10 totaling R$400,000 that pay interest equivalent to 111.20% of the CDI Cetip rate per year, maturing in March 2021, with early redemption option.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:0cm;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Guarantees provided</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Guarantees provided for the borrowings comprise property, plant and equipment items and sureties and do not include guarantees provided for subsidiaries and jointly controlled entities. As of September 30, 2014, the amount is R$3,266 (R$4,234 as of December 31, 2013).</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">45</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name="page_47"></A>

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<TR>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD rowSpan=2 align=right>&nbsp;
   <IMG src="x14112610004409.jpg" width=118 height=54></TD></TR>

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   <TD>&nbsp;</TD>

   <TD>

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=right><B></B>&nbsp;</H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>11.</FONT></B></FONT><FONT face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp; </FONT></B></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>FINANCIAL INSTRUMENTS </FONT></B></FONT></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US>The information related to financial instruments did not have significant changes in relation to that disclosed in the Company's financial statements as of December 31, 2013 and, accordingly, the Company decided not to repeat it fully in the condensed interim financial statements as of September 30, 2014.</FONT></FONT></FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>I - Identification and measurement of financial instruments</FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>The Company enters into transactions involving various financial instruments, mainly cash and cash equivalents, including short-term investments, marketable securities, trade receivables, trade payables, and borrowings and financing. Additionally, it also carries out transactions involving derivative financial instruments, especially exchange and interest rate </FONT></FONT><FONT face=arial,sans-serif><I><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>swap</FONT></I></FONT><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>s.</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -21.3pt; MARGIN: 0cm 0cm 0cm 21.3pt"><FONT style="LINE-HEIGHT: 116%" face=symbol><FONT face=symbol><FONT style="FONT-SIZE: 9pt" lang=EN-US>&#183;</FONT></FONT><FONT face="times new roman"><FONT style="FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=EN-US>Classification of financial instruments </FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

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



<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=3 width="25%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Consolidated </FONT></B></P></TD>

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

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

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="34%" colSpan=9>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B></P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9/30/2014</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="34%" colSpan=9>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12/31/2013</FONT></B></P></TD></TR>

<TR>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" rowSpan=2 width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Notes</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Available for sale</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Fair value through profit or loss</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loans and receivables - effective interest rate</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other liabilities - amortized cost method </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Balances</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Available for sale</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Fair value through profit or loss</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loans and receivables - effective interest rate</FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other liabilities - amortized cost method </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Balances</FONT></B></P></TD></TR>

<TR>

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

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

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

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="25%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current assets</FONT></B></P></TD>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,971,362 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>8,971,362 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,995,672 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,995,672 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Trade receivables, net</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,406,309 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,406,309 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,733,641 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,733,641 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>147,075 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>147,075 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,681 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,681 </FONT></P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Trading securities</FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6 </FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>20,390 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>20,390 </FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,906 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,906 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=#ff0000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>167,465 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10,377,671 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10,545,136 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>19,587 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11,729,313 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11,748,900 </FONT></B></P></TD></TR>

<TR>

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

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

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

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

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

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

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

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

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

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

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

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

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other trade receivables </FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>893 </FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>893 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,970 </FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9,970 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,171,667 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,171,667 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,405,174 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,405,174 </FONT></P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6 </FONT></P></TD>

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

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

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

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

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,879 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,879 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Short-term investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#ff0000 face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 7pt" color=#000000 face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>32,539 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#4f81bd face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>32,539 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>30,756 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>30,756 </FONT></P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,171,667 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>33,432 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,205,099 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,405,174 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,879 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>40,726 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,449,779 </FONT></B></P></TD></TR>

<TR>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="25%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,171,667 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>167,465 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10,411,103 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11,750,235 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,405,174 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>23,466 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11,770,039 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>14,198,679 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">&nbsp;</TD>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=#ff0000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current liabilities</FONT></B></P></TD>

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

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

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

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

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

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

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

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

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

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

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

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 24pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Borrowings and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,682,399 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,682,399 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,673,648 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,673,648 </FONT></P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 24pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12 </FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,088 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,088 </FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,822 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,822 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 24pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Trade payables </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%">

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=#ff0000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="1%" align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,469,748 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,469,748 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,102,037 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,102,037 </FONT></P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,088 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,152,147 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,169,235 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6,822 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,775,685 </FONT></B></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,782,507 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=#ff0000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8.05pt; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD>

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

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

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

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

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

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

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD>

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

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

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

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

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 24pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Borrowings and financing </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>10 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,134,403 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,134,403 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,189,574 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,189,574 </FONT></P></TD></TR>

<TR>

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

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 24pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>12 </FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,827 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,827 </FONT></P></TD>

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,375 </FONT></P></TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,375 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 16.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8.05pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="4%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=#ff0000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; TEXT-INDENT: 8.05pt; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,827 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,134,403 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,152,230 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>17,375 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,189,574 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" vAlign=bottom width="1%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,206,949 </FONT></B></P></TD></TR>

<TR>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="25%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

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

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

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34,915 </FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>30,286,550 </FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>30,321,465 </FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>24,197 </FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,965,259 </FONT></B></P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>28,989,456 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 10pt"><FONT style="FONT-SIZE: 11pt" lang=PT-BR face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -21.3pt; MARGIN: 0cm 0cm 0cm 21.3pt"><FONT style="LINE-HEIGHT: 116%" face=symbol><FONT face=symbol><FONT style="FONT-SIZE: 9pt" lang=EN-US>&#183;</FONT></FONT><FONT face="times new roman"><FONT style="FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=EN-US>Fair value measurement </FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US>The following table shows the financial instruments recognized at fair value through profit or loss using a valuation method:</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV>

<DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">&nbsp;</P></DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>PAGE </FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>46</FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR> of 83</FONT></FONT></P>

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<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">&nbsp;</P></DIV></DIV></DIV>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004410.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr style="height:13.4pt;">
  <td valign=top width=35% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated </font></b></font></p></td>
 <td valign=top width=1% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=7% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td valign=top width=2% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="height:13.4pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=top width=35% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=1% style="height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=7% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Level 1</font></b></font></p></td>
 <td valign=top width=1% style="height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=7% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Level 2</font></b></font></p></td>
 <td valign=top width=1% style="height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=7% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Level 3</font></b></font></p></td>
 <td valign=top width=1% style="height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=7% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Balances</font></b></font></p></td>
 <td valign=top width=2% style="height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=7% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Level 1</font></b></font></p></td>
 <td valign=top width=1% style="height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=7% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Level 2</font></b></font></p></td>
 <td valign=top width=1% style="height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=7% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Level 3</font></b></font></p></td>
 <td valign=top width=1% style="height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Balances</font></b></font></p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Assets</font></b></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Current assets</font></b></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Financial assets at fair value through profit or loss</font></b></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Derivative financial instruments</font></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">147,075 </font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">147,075 </font></font></p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">9,681 </font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">9,681 </font></font></p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Trading securities</font></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">20,390 </font></font></p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">20,390 </font></font></p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">9,906 </font></font></p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">9,906 </font></font></p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Non-current assets</font></b></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Available-for-sale financial assets</font></b></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Investments</font></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">1,171,667 </font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">1,171,667 </font></font></p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">2,405,174 </font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">2,405,174 </font></font></p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Financial assets at fair value through profit or loss</font></b></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Derivative financial instruments</font></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">&nbsp;</font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">&nbsp;</font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">&nbsp;</font></font></p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">3,879 </font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">3,879 </font></font></p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Total assets</font></b></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">1,192,057 </font></b></font></p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">147,075 </font></b></font></p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">1,339,132 </font></b></font></p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">2,415,080 </font></b></font></p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">13,560 </font></b></font></p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">2,428,640 </font></b></font></p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Liabilities</font></b></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Current liabilities</font></b></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Financial liabilities at fair value through profit or loss</font></b></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Derivative financial instruments</font></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">17,088 </font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">17,088 </font></font></p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">6,822 </font></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">6,822 </font></font></p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Non-current liabilities</font></b></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Financial liabilities at fair value through profit or loss</font></b></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Derivative financial instruments</font></font></p></td>
 <td valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">17,827 </font></font></p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">17,827 </font></font></p></td>
 <td align=right valign=top width=2% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">17,375 </font></font></p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="background:#dce6f1;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><font style="font-size:8pt;">17,375 </font></font></p></td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=35% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Total liabilities</font></b></font></p></td>
 <td valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">34,915 </font></b></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">34,915 </font></b></font></p></td>
 <td align=right valign=top width=2% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">24,197 </font></b></font></p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=1% style="height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right valign=top width=7% style="border-bottom:windowtext 1pt solid;height:12.25pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">24,197 </font></b></font></p></td>
 </tr>
<tr style="height:4.95pt;">
  <td valign=top width=35% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=top width=1% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td valign=top width=7% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=2% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=1% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=top width=7% style="background-color:#dce6f1;height:4.95pt;padding-bottom:0cm;padding-left:1.5pt;padding-right:1.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;"><em>&nbsp;</em>&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font color=black face=arial,sans-serif style="line-height:116%;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">II &#8211; Investments in financial instruments classified as available for sale and measured at fair value through OCI</font></b></font><em> &nbsp;</em></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">These consist mainly of investments in shares acquired in Brazil involving top ranked companies, which are recognized in non-current assets, and any gains or losses are recognized in shareholders' equity, where they will remain until actual realization of the securities or when any loss is considered unrecoverable.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font face=arial,sans-serif><b><i><font lang=PT-BR style="font-size:9pt;">Impairment of financial assets classified as available for sale</font></i></b></font></font><em><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:9pt;">&nbsp;&nbsp; </font></i></b></font></em></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The Company has investments in common (USIM3) and preferred (USIM5) shares (&#8220;Usiminas Shares&#8221;), designated as available-for-sale financial assets &nbsp;as they do not meet the criteria to be classified within any of the other categories of financial instruments (loans and receivables, held-to-maturity investments or financial assets at fair value through profit or loss). The asset is classified as a non-current asset under line item &#8220;investments&#8221; and is carried at fair value based on the quoted price on the stock exchange (BM&amp;FBOVESPA).</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Considering the volatility of the quotations of Usiminas shares, the Company evaluated whether, at the end of the reporting period, there was objective evidence of impairment of these financial assets, i.e., the Company&#8217;s management evaluated if the decline in the market value of Usiminas shares should be considered either significant or prolonged. In turn, this valuation requires judgment based on CSN&#8217;s policy, prepared according to practices used in the domestic and international markets, and consists of an instrument by instrument analysis based on quantitative and qualitative information available in the market, from the time an instrument shows a drop of 20% or more in its market value or from the time there is a significant drop in its market value as compared to its acquisition price during more than twelve months.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On June 30, 2014 and 2013, there was a decline in the quotation of the common shares (USIM3) which, according to the Company&#8217;s accounting policy, generated a loss of R$34,396 and R$3,302, net of income tax and social contribution, and R$52,115 and R$5,002 were recorded in other operating expenses and R$17,719 and R$1,701 in deferred taxes, respectively.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On September 30,&nbsp; 2014, after a new decline in the quotation of the common shares (USIM3) in relation to the quotation of June 30, 2014, the Company reclassified the accumulated losses for the quarter recognized in other comprehensive income, in the amount of R$13,193, net of income tax and social contribution, to profit or loss for the period, in the amount of R$19,989 in other operating expenses and R$6,796 in deferred taxes, totaling in 2014 R$72,104 in other operating expenses and R$24,515 in deferred taxes.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">47</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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  <td>&nbsp;</td>
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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Beginning this date, pursuant to a Company's policy, gains and losses arising from the variation of the quotation of shares were recognized in other comprehensive income.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;vertical-align:top;"><font color=#222222 face=arial,sans-serif style="line-height:116%;"><font color=#222222 face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On April 9, 2014, the Administrative Council for Economic Defense (CADE - Conselho Administrativo de Defesa Econ&#244;mica) issued its decision on the matter and a commitment agreement (Performance Commitment Agreement), or TCD, was signed between CADE and CSN. Under the terms of the decision of CADE and TCD, CSN must reduce its interest in Usiminas within a specified term. The term and percentage of reduction are confidential. Moreover, the political rights at Usiminas will continue suspended until the Company reaches the limits established in the TCD.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;vertical-align:top;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;vertical-align:top;"><font color=#222222 face=arial,sans-serif style="line-height:116%;"><font color=#222222 face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The Company&#8217;s interest in Usiminas has not changed as compared with the percentage disclosed in the financial statements as of December 31, 2013.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;vertical-align:top;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;vertical-align:top;"><font color=#222222 face=arial,sans-serif style="line-height:116%;"><font color=#222222 face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The Company will continue to evaluate strategic alternatives with respect to its investment in Usiminas. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">III &#8211; Fair values of assets and liabilities as compared to their carrying amounts</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The estimated fair values of consolidated long-term borrowings and financing were calculated at prevailing market rates, taking into consideration the nature, terms and risks similar to those of the recorded contracts, as compared below:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap valign=bottom width=23% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=17% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=17% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=17% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
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<tr style="height:12.95pt;">
  <td nowrap width=23% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=17% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Carrying amount</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=17% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Fair value<br>Fair value </font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=17% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Carrying amount</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=17% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Fair value</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=23% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Perpetual bonds</font></font></p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,454,336 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,225,003 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,345,789 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,938,780 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=23% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Fixed Rate Notes</font></font></p></td>
 <td nowrap valign=bottom width=17% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,758,958 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,024,515 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,661,978 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,032,207 </font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">IV&nbsp;&nbsp;&nbsp;&nbsp; Financial risk management policy</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">As of September 30, 2014, there were no changes in the financial risk management policies in relation to those disclosed in the Company's financial statements for the year ended December 31, 2013.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 21.3pt;text-align:justify;text-indent:-21.3pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Foreign exchange exposure</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The consolidated net exposure as of September 30, 2014 is as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:15.75pt;">
  <td nowrap width=49% style="border-bottom:windowtext 1pt solid;height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=5% style="border-bottom:windowtext 1pt solid;height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=21% style="border-bottom:windowtext 1pt solid;height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=20% style="border-bottom:windowtext 1pt solid;height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
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<tr style="height:24pt;">
  <td width=49% style="border-bottom:windowtext 1pt solid;height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Foreign Exchange Exposure</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(Amounts in US$&#8217;000)</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=20% style="border-bottom:windowtext 1pt solid;height:24pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(Amounts in &#8364;&#8217;000)</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=49% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Cash and cash equivalents overseas</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=21% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,358,639 </font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=20% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,466 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=49% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Trade receivables - foreign market</font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">184,734 </font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">9,135 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=49% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Related parties borrowings</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=21% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">154,549 </font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=20% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">79,778 </font></font></p></td>
 </tr>
<tr style="height:8.15pt;">
  <td nowrap valign=bottom width=49% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other assets</font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">128 </font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:8.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">9,154 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=49% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total assets</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=21% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,698,050 </font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=20% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100,533 </font></b></font></p></td>
 </tr>
<tr style="height:7.75pt;">
  <td nowrap valign=bottom width=49% style="height:7.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Borrowings and financing</font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:7.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:7.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,928,517)</font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:7.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:7.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(119,968)</font></font></p></td>
 </tr>
<tr style="height:10.9pt;">
  <td nowrap valign=bottom width=49% style="background:#dce6f1;height:10.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Trade payables</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:10.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=21% style="background:#dce6f1;height:10.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(216,184)</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:10.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=20% style="background:#dce6f1;height:10.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,931)</font></font></p></td>
 </tr>
<tr style="height:14pt;">
  <td nowrap valign=bottom width=49% style="height:14pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other liabilities</font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:14pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:14pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,578)</font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:14pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:14pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(23,700)</font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=49% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Related parties borrowings</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=21% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(34,537)</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=20% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=49% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total liabilities</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(5,194,816)</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(149,599)</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=top width=49% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Gross exposure</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=21% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,496,766)</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=20% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(49,066)</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=top width=49% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Notional amount of derivatives contracted (*)</font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,508,000 </font></font></p></td>
 <td nowrap valign=bottom width=5% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(90,000)</font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=top width=49% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Net exposure</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=21% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">11,234 </font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=20% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(139,066)</font></b></font></p></td>
 </tr>
</table></div>

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<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">48</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

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   <img height=54 src="x14112610004412.jpg" width=118></td>
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<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt 21.3pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 21.3pt;text-align:justify;text-indent:-21.3pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&nbsp;Exchange swap transactions </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=14% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Appreciation (R$)</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Fair value (market)</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=14% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Appreciation (R$)</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Fair value (market)</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Impact on finance income (cost) in 2014</font></b></font></p></td>
 </tr>
<tr>
  <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Counterparties</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Transaction maturity</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Functional currency </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Notional amount </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Asset position </font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Liability position</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Amounts receivable/ (payable)</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Notional amount </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Asset position </font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Liability position</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Amounts receivable/ (payable)</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Santander</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">02/01/15</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">27,911 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(24,405)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,506 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">26,512 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(22,633)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,879 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(373)</font></font></p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Deutsche</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">11/10/14</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">20,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">49,389 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(50,812)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,423)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,423)</font></font></p></td>
 </tr>
<tr>
  <td width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Goldman Sachs</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">23,697 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(22,799)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">898 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,434)</font></font></p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">HSBC</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">90,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">213,306 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(205,171)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,135 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(13,377)</font></font></p></td>
 </tr>
<tr>
  <td colspan=3 nowrap width=20% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:8pt;">Total dollar-to-CDI swap</font></i></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">30,000 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">77,300 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(75,217)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,083 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">110,000 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">263,515 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(250,603)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,912 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(16,607)</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Ita&#250; BBA</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">10/1/2014 to 1/6/2015</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">518,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,264,679 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,213,179)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">51,500 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">85,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">199,753 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(199,844)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(91)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">19,152 </font></font></p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Ita&#250; BBA</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">2/12/2014 to 1/30/2015</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">80,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">195,127 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(198,119)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,992)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,992)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">HSBC</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">10/1/2014 to 1/6/2015</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">490,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,196,224 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,143,365)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">52,859 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">208,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">488,843 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(489,349)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(506)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">17,866 </font></font></p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">HSBC</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">12/2/2014 to 1/30/2015</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">160,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">390,010 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(400,689)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(10,679)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(10,679)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Deutsche Bank</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">10/1/2014 to 12/4/2014</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">130,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">317,746 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(304,775)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">12,971 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,991 </font></font></p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Deutsche Bank</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">1/30/2015</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">20,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">48,692 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(50,436)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,744)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,744)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Goldman Sachs</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">01/08/15</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">30,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">73,100 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(68,842)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,258 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,258 </font></font></p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">BTG Pactual</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">12/02/14</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">50,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">122,030 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(122,280)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(250)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(250)</font></font></p></td>
 </tr>
<tr>
  <td colspan=3 nowrap width=20% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Total dollar-to-real swap (NDF)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,478,000 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,607,608 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(3,501,685)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">105,923 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">293,000 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">688,596 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(689,193)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(597)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">34,602 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Ita&#250; BBA</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">11/21/2014</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Euro</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">30,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">97,703 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(92,868)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,835 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">30,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">94,858 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(96,632)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,774)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">12,862 </font></font></p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">HSBC</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">11/21/2014</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Euro</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">60,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">195,413 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(185,736)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,677 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">30,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">94,900 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(96,632)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,732)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,366 </font></font></p></td>
 </tr>
<tr>
  <td width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Goldman Sachs</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Euro</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">30,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">94,880 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(96,632)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,752)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">342 </font></font></p></td>
 </tr>
<tr>
  <td colspan=3 nowrap width=20% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:8pt;">Total dollar-to-euro swap (NDF) </font></i></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">90,000 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">293,116 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(278,604)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">14,512 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">90,000 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">284,638 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(289,896)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(5,258)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">23,570 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">BES</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">11/17/14 to 1/30/15</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">37,544 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">92,357 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(87,278)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,079 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">11,801 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">27,878 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(27,861)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">17 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,835 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">BNPP</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">10/7/2014</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US dollar</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">12,536 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">30,839 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(28,449)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,390 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,390 </font></font></p></td>
 </tr>
<tr>
  <td colspan=3 nowrap width=20% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:8pt;">Total dollar-to-euro swap </font></i></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">50,080 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">123,196 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(115,727)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">7,469 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">11,801 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27,878 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(27,861)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">17 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">7,225 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">CSFB</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">21,500 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">36,526 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(36,862)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(336)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(943)</font></font></p></td>
 </tr>
<tr>
  <td colspan=3 nowrap width=20% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:8pt;">Total LIBOR-to-CDI interest rate swap</font></i></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">21,500 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">36,526 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(36,862)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(336)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(943)</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Ita&#250; BBA</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">03/01/16</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Real</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">150,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">165,245 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(172,503)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,258)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">150,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">152,610 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(159,712)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,102)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(156)</font></font></p></td>
 </tr>
<tr>
  <td width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">HSBC</font></i></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">2/5/16 to 3/1/16</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Real</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">185,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">202,827 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(212,891)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(10,064)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">185,000 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">187,395 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(197,157)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(9,762)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(302)</font></font></p></td>
 </tr>
<tr>
  <td width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Deutsche Bank</font></i></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">03/01/16</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Real</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,952 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(11,457)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(505)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,000 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,114 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(10,625)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(511)</font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">6 </font></font></p></td>
 </tr>
<tr>
  <td colspan=3 nowrap width=20% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:8pt;">Total fixed rate-to-CDI interest rate swap</font></i></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">345,000 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">379,024 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(396,851)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(17,827)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">345,000 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">350,119 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(367,494)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(17,375)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(452)</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td colspan=5 nowrap width=28% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,480,244 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(4,368,084)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">112,160 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,651,272 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,661,909)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(10,637)</font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">47,395 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0cm 18pt;text-align:justify;text-indent:-18pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Classification of the derivatives in the balance sheet and statement of income</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0cm 18pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap width=17% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=3% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=8% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=3% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=7% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=3% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td rowspan=2 width=17% style="border-bottom:black 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Instruments</font></b></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 width=30% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Assets</font></b></font></p></td>
 <td width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 width=31% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Liabilities</font></b></font></p></td>
 <td width=3% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td rowspan=2 width=13% style="border-bottom:black 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Finance income (costs), net (Note 23)</font></b></font></p></td>
 </tr>
<tr style="height:14.35pt;">
  <td nowrap width=3% style="height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td width=3% style="height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td width=3% style="height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=3% style="height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td width=3% style="height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td width=3% style="height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=3% style="height:14.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:9.65pt;">
  <td width=17% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Dollar-to-CDI swap</font></i></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,506 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,506 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,423 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,423 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:9.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,607)</font></font></p></td>
 </tr>
<tr style="height:12.6pt;">
  <td width=17% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:8pt;">Dollar-to-real swap (NDF)</font></i></font></p></td>
 <td nowrap width=3% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">121,588 </font></font></p></td>
 <td nowrap width=3% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">121,588 </font></font></p></td>
 <td nowrap width=3% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">15,665 </font></font></p></td>
 <td nowrap width=3% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">15,665 </font></font></p></td>
 <td nowrap width=3% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:12.6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34,602 </font></font></p></td>
 </tr>
<tr style="height:8.55pt;">
  <td width=17% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:8pt;">Dollar-to-euro swap (NDF)</font></i></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">14,512 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">14,512 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:8.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">23,570 </font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td width=17% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Dollar-to-real swap </font></i></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">7,469 </font></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">7,469 </font></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">7,225 </font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td width=17% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Libor-to-CDI swap(*)</font></i></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(943)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td width=17% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:8pt;">Fixed rate-to-CDI swap</font></i></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17,827 </font></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17,827 </font></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(452)</font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=17% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">147,075 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">147,075 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">17,088 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">17,827 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">34,915 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">47,395 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">49</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_51"></a>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004500.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<div style="padding-left:0%;padding-right:0%;">

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap width=16% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td rowspan=2 width=16% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Instruments</font></b></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 width=32% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Assets</font></b></font></p></td>
 <td width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 width=33% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Liabilities</font></b></font></p></td>
 <td width=3% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td rowspan=2 width=10% style="border-bottom:black 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Finance income (costs), net (Note 23)</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Dollar-to-CDI swap</font></i></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">9,033 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,879 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">12,912 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">232 </font></font></p></td>
 </tr>
<tr style="height:22.5pt;">
  <td width=16% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:8pt;">Dollar-to-real swap (NDF)</font></i></font></p></td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">631 </font></font></p></td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">631 </font></font></p></td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,228 </font></font></p></td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,228 </font></font></p></td>
 <td nowrap width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:22.5pt;">
  <td width=16% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:8pt;">Dollar-to-euro swap (NDF)</font></i></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,258 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,258 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,031)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Yen-to-dollar swap (**)</font></i></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(58)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Dollar-to-euro swap</font></i></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,851 </font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font style="font-size:8pt;">Libor-to-CDI swap</font></i></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">336 </font></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">336 </font></font></p></td>
 <td nowrap width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,385)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td width=16% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:8pt;">Fixed rate-to-CDI swap</font></i></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17,375 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17,375 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,308)</font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=16% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,681 </font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,879 </font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">13,560 </font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">6,822 </font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">17,375 </font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">24,197 </font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(19,699)</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(*) The positions of the swap transactions were settled in May 2014, together with their prepayment.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(**) The positions of the swap transactions were settled in December 2013, together with their guarantee deposit.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Sensitivity analysis of exchange rate swaps </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The Company considered scenarios 1 and 2 as 25% and 50% of appreciation for volatility of the currency, using as reference the closing exchange rate as of September 30, 2014 for dollar-to-real exchange swap R$2.4510, and for dollar-to-euro exchange swap R$1.2629.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap valign=bottom width=29% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr style="height:22.5pt;">
  <td width=29% style="border-bottom:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Instruments</font></b></font></p></td>
 <td width=3% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Notional amount </font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Risk</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Probable scenario (*)</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Scenario&nbsp;1</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Scenario&nbsp;2</font></b></font></p></td>
 </tr>
<tr style="height:7.3pt;">
  <td nowrap valign=bottom width=29% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Dollar-to-CDI exchange swap</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">30,000 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">D&#243;lar</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">2,083 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(19,325)</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:7.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(38,650)</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=29% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.8pt;">
  <td nowrap valign=bottom width=29% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Dollar-to-real exchange swap (NDF)</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,478,000 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">D&#243;lar</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">105,923 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(785,527)</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,571,053)</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=29% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=29% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Dollar-to-euro exchange swap (NDF)</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(90,000)</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Euro</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">14,512 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">69,678 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">138,731 </font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=29% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=29% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Dollar-to-euro exchange swap (NDF)</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">50,080 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">D&#243;lar</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">7,469 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">40,708 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">122,125 </font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(*) The sensitivity analysis is based on the assumption of maintaining, as a probable scenario, the market values as of September 30, 2014 recognized in the company's assets and liabilities.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Sensitivity analysis of interest rate swaps </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company considered scenarios 1, 2, 3 and 4 as 25% and 50% of appreciation and devaluation for volatility of the interest as of September 30, 2014.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap valign=bottom width=29% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=11 nowrap valign=bottom width=69% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr style="height:22.5pt;">
  <td width=29% style="border-bottom:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Instruments</font></b></font></p></td>
 <td width=2% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="border-bottom:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Notional amount</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Risk</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="border-bottom:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Scenario&nbsp;1</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="border-bottom:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Scenario&nbsp;2</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="border-bottom:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Scenario&nbsp;3</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="border-bottom:windowtext 1pt solid;height:22.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Scenario&nbsp;4</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td width=29% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=10% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=9% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=10% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=29% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Fixed rate-to-CDI interest rate swap</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">345,000 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">CDI</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,128)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(30,400)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,981 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">29,812 </font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt 18pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">50</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_52"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004501.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Sensitivity analysis of changes in interest rates</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company considers the effects of a 5% increase or decrease in interest rates on its outstanding borrowings, financing and debentures as of September 30, 2014 in the condensed interim financial statements. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=48% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Impact on profit or loss</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=32% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Changes in interest rates</font></b></font></p></td>
 <td nowrap valign=bottom width=4% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">% p.a</font></b></font></p></td>
 <td nowrap valign=bottom width=4% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=22% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=23% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=32% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">TJLP</font></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=12% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5.00 </font></font></p></td>
 <td align=right nowrap valign=bottom width=4% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=22% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,479 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=23% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,521 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Libor</font></font></p></td>
 <td nowrap width=4% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=12% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">0.33 </font></font></p></td>
 <td align=right nowrap width=4% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=22% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,594 </font></font></p></td>
 <td align=right nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=23% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,725 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CDI</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=12% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10.81 </font></font></p></td>
 <td align=right nowrap width=4% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=22% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">76,823 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=23% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">71,507 </font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;">Share market price risks</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company is exposed to the risk of changes in equity prices due to the investments made and classified as available-for-sale. Equity investments refer to blue chips traded on BM&amp;F BOVESPA.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The following table shows the impact of the net changes in the market value of financial instruments classified as available-for-sale on shareholders' equity, in other comprehensive income (note 30). </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap valign=bottom width=36% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=36% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=60% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other comprehensive income</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=36% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=18% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=18% style="border-bottom:#000000 1px solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=18% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Net change</font></b></font></p></td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=36% style="background:#dce6f1;height:23.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Net change in available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:23.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=18% style="background:#dce6f1;height:23.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,030 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:23.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=18% style="background:#dce6f1;height:23.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">779,526 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:23.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=18% style="background:#dce6f1;height:23.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(771,496)</font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company considers as probable scenario the amounts recognized at market prices as of September 30, 2014, net of tax. </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Sensitivity analysis is based on the assumption of maintaining as probable scenario the market values as of September 30, 2014. Therefore, there is no impact on the financial instruments classified as available for sale already presented above. The Company considered scenarios 1 and 2 as 25% and 50% of appreciation for volatility of the shares.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:14.25pt;">
  <td nowrap valign=bottom width=27% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=19% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=4 nowrap width=50% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Impact on equity</font></b></font></p></td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=27% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Companies</font></b></font></p></td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=19% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Probable</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=23% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Scenario 1</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=21% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Scenario 2</font></b></font></p></td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=27% style="background:#dce6f1;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Usiminas</font></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=19% style="background:#dce6f1;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,953 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=23% style="background:#dce6f1;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">187,814 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=21% style="background:#dce6f1;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">375,628 </font></font></p></td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=27% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Panatl&#226;ntica</font></font></p></td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=19% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,077 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=23% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,504 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=21% style="border-bottom:windowtext 1pt solid;height:14.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,007 </font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td valign=bottom width=27% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=19% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,030 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=23% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">191,318 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=21% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">382,635 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Pursuant to the Company's accounting policies, the negative variations in Usiminas investment, when considered significant (impairment), are recognized in profit or loss for the period.</font></font></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">51</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=right><B></B>&nbsp;</H2></TD></TR></TABLE></DIV></FONT>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 116%" face=symbol><FONT face=symbol><FONT style="FONT-SIZE: 9pt" lang=EN-US>&#183;</FONT></FONT><FONT face="times new roman"><FONT style="FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 9pt" lang=EN-US>Liquidity risk</FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 11.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.25pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Consolidated</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 21.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">At September 30, 2014</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Less than one year</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US>From one to two years</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US>From two to five years</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Over five years</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" vAlign=bottom width="3%">

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.75pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Borrowings, financing and debentures</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">3,682,399 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">3,867,377 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">13,407,522 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,859,504 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">28,816,802 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Derivative financial instruments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">17,088 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">17,827 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">34,915 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Trade payables</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,469,748 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,469,748 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

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

<TR style="HEIGHT: 12.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">At December 31, 2013</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

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

<TR style="HEIGHT: 12.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Borrowings, financing and debentures</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">2,673,648 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">6,391,523 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">11,439,993 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,358,058 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">27,863,222 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Derivative financial instruments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">6,822 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">17,375 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">24,197 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Trade payables</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,102,037 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.95pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,102,037 </FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>12.</FONT></B></FONT><FONT face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp; </FONT></B></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>OTHER PAYABLES</FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>The group of other payables classified in current and non-current liabilities is comprised as follows:</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="11%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="16%" colSpan=4 noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="23%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Consolidated</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="15%" colSpan=3 noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="13%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Parent Company</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="20%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Current</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="18%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Non-current</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="17%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Current</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="19%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Non-current</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9/30/2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">12/31/2013</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9/30/2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">12/31/2013</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9/30/2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">12/31/2013</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9/30/2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">12/31/2013</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>Payables to related parties (Note 17 b)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">450,129 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">422,150 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">8,911,410 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">8,522,685 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">494,308 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">735,880 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">9,479,246 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">8,873,825 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Derivative financial instruments (Note 11 I)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">17,088 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="9%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">6,822 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">17,827 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">17,375 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="7%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">336 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="9%" colSpan=4 noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 11.85pt; PADDING-TOP: 0cm" width="8%" noWrap>

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

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>Dividends and interest on capital payable non-controlling shareholders</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">2,099 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">2,036 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">2,099 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">2,036 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=4 noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

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

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Advances from customers</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">22,942 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">28,213 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">17,504 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">17,501 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=4 noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Taxes in installments (Note 14) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">259,804 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">247,387 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,455,931 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,454,838 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">226,792 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">218,667 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,279,711 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,294,666 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Profit sharing - employees</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">104,129 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">121,631 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">87,668 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">113,039 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=4 noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Other payables</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">117,870 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">144,612 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">49,995 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">66,673 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">22,761 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">51,497 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="9%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">6,109 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="2%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 12.75pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">5,241 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; PADDING-TOP: 0cm" width="22%" colSpan=6 noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">974,061 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="9%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">972,851 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">10,435,163 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">10,061,571 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; PADDING-TOP: 0cm" width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">851,132 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; PADDING-TOP: 0cm" width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="8%" colSpan=2 noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">1,138,956 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; PADDING-TOP: 0cm" width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="9%" colSpan=4 noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">10,765,066 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; PADDING-TOP: 0cm" width="2%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">10,173,732 </FONT></B></FONT></P></TD></TR>

<TR>

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   <TD width="2%">&nbsp;</TD>

   <TD width="3%">&nbsp;</TD>

   <TD width="2%">&nbsp;</TD>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>13.</FONT></B></FONT><FONT face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp; </FONT></B></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>INCOME TAX AND SOCIAL CONTRIBUTION </FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US>The information related to income tax and social contribution did not have significant changes in relation to that disclosed in the Company's financial statements as of December 31, 2013 and, accordingly, the Company decided not to repeat it fully in the condensed interim financial statements as of September 30, 2014.</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>(a)</FONT></B></FONT><FONT face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp; </FONT></B></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>Income tax and social contribution recognized in profit or loss:</FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>The income tax and social contribution recognized in profit or loss for the period are as follows:</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>PAGE </FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>52</FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR> of 83</FONT></FONT></P>

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  <td>&nbsp;</td>
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   <img height=54 src="x14112610004503.jpg" width=118></td>
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  <td>&nbsp;</td>
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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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</table></div><font lang=PT-BR style="font-size:10pt;"><br clear=all></font></font>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=28% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=28% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Income tax and social contribution (expenses) income</font></b></font></p></td>
 <td nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Current</font></font></p></td>
 <td align=right nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(407,606)</font></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(287,136)</font></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(187,241)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#333333 face=arial,sans-serif><font style="font-size:8pt;">(123,290)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Deferred</font></font></p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">332,332 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">527,544 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">154,443 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font color=#333333 face=arial,sans-serif><font style="font-size:8pt;">59,844 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(75,274)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">240,408 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(32,798)</font></b></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(63,446)</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=28% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=28% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Income (expenses) tax and social contribution income</font></b></font></p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Current</font></font></p></td>
 <td align=right nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(30,470)</font></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(30,470)</font></font></p></td>
 <td align=right nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Deferred</font></font></p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">306,781 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">525,127 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">144,757 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">65,251 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">276,311 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">525,127 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">114,287 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">65,251 </font></b></font></p></td>
 </tr>
</table></div></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The reconciliation of Company and consolidated income tax and social contribution expenses and income and the result from applying the effective rate on profit before income tax (IRPJ) and social contribution (CSLL) are as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:115%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:13.05pt;">
  <td nowrap width=49% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=25% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:12.85pt;">
  <td nowrap valign=bottom width=49% style="height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=25% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="border-top:windowtext 1pt solid;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=25% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:#000000 1px solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:#000000 1px solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Profit before income tax and social contribution</font></b></font></p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(103,985)</font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">780,682 </font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(217,590)</font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">566,334 </font></b></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Tax rate</font></font></p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34%</font></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34%</font></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34%</font></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34%</font></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Income tax and social contribution at combined statutory rate</font></b></font></p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">35,355 </font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(265,432)</font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">73,981 </font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(192,554)</font></b></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Adjustment to reflect effective rate:</font></b></font></p></td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Interest on capital benefit</font></font></p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">255,009 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">64,609 </font></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td width=49% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Share of profits of investees</font></font></p></td>
 <td nowrap valign=bottom width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,794 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">172,631 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">67,178 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">70,876 </font></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td width=49% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Income subject to special tax rates or untaxed</font></font></p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(75,555)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">125,121 </font></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(145,882)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(195)</font></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td width=49% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Transfer pricing adjustment</font></font></p></td>
 <td nowrap valign=bottom width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(21,164)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(9,655)</font></font></p></td>
 <td nowrap valign=bottom width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.85pt;">
  <td width=49% style="background:#dce6f1;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Tax loss carryforwards without recognizing deferred taxes</font></font></p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(24,822)</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(33,504)</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,541)</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(26,137)</font></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Other permanent deductions (add-backs) </font></font></p></td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(17,882)</font></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(13,417)</font></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(14,879)</font></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">19,955 </font></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Income tax and social contribution in profit for the period</font></b></font></p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(75,274)</font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">240,408 </font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(32,798)</font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(63,446)</font></b></font></p></td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap width=49% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Effective tax rate</font></b></font></p></td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">-72%</font></b></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">-31%</font></b></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">-15%</font></b></font></p></td>
 <td nowrap width=1% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">11%</font></b></font></p></td>
 </tr>
<tr>
  <td width=49%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">53</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
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  <td nowrap width=29% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=32% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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 <td colspan=2 nowrap width=17% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.7pt;">
  <td nowrap width=29% style="height:12.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;height:12.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=6 nowrap width=37% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
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<tr style="height:12.9pt;">
  <td nowrap width=29% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="border-bottom:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:#000000 1px solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=17% style="border-bottom:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td colspan=2 nowrap width=7% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="border-bottom:#000000 1px solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Loss (profit) before income tax and social contribution</font></b></font></p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(449,367)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">496,350 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=17% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(364,392)</font></b></font></p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">434,431 </font></b></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=29% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Tax rate</font></font></p></td>
 <td nowrap width=16% style="border-bottom:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34%</font></font></p></td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34%</font></font></p></td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=17% style="border-bottom:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34%</font></font></p></td>
 <td colspan=2 nowrap width=7% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34%</font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Income tax and social contribution at combined statutory rate</font></b></font></p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">152,785 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(168,759)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=17% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">123.893 </font></b></font></p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">(147,707)</font></b></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=29% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Adjustment to reflect effective rate:</font></b></font></p></td>
 <td nowrap width=16% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=17% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=7% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Interest on capital benefit</font></font></p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">255</font></font><font face=arial,sans-serif><font style="font-size:8pt;">,009 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=17% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">64,609 </font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td width=29% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Share of profits of investees</font></font></p></td>
 <td nowrap valign=bottom width=16% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">160,142 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">455,431 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=17% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,133 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=7% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">135,003 </font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td width=29% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Transfer pricing adjustment</font></font></p></td>
 <td nowrap width=16% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(21,164)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=17% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(9,655)</font></font></p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=29% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Other permanent deductions (add-backs) </font></font></p></td>
 <td nowrap width=16% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,452)</font></font></p></td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,554)</font></font></p></td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=17% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,084)</font></font></p></td>
 <td colspan=2 nowrap width=7% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">13,346 </font></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=29% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Income tax and social contribution in profit for the period</font></b></font></p></td>
 <td nowrap width=16% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">276,311 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">525,127 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=17% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">114,287 </font></b></font></p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">65,251 </font></b></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=29% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Effective tax rate</font></b></font></p></td>
 <td nowrap width=16% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">61%</font></b></font></p></td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">-106%</font></b></font></p></td>
 <td nowrap width=2% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=17% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">31%</font></b></font></p></td>
 <td colspan=2 nowrap width=7% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">-15%</font></b></font></p></td>
 </tr>
<tr>
  <td width=29%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=4%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(b)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Deferred income tax and social contribution:</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:115%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The deferred income tax and social contribution are calculated on income tax and social contribution loss carryforwards and related temporary differences between the tax bases of assets and liabilities and the accounting balances of the condensed interim financial statements. They are presented at net amounts when related to a sole jurisdiction.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Opening balance</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=23% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Movement</font></b></font></p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Closing balance</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Comprehensive income</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Profit or loss</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Refis credit Law 12.996/14 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Deferred tax assets</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Income tax loss carryforwards</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,132,296 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(8,239)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">119,228 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(89,630)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,153,655 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Social contribution loss carryforwards</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">389,306 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">45,211 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(32,266)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">402,251 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Temporary differences</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,248,925 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">402,914 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">147,215 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,799,054 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- Provision for tax, social security, labor, civil and environmental risks</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">207,507 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,500 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">212,007 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Provision for environmental liabilities</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">117,795 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(46,424)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">71,371 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Asset impairment losses</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">53,450 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,249 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">59,699 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Inventory impairment losses</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,556 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">337 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,893 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- (Gains) losses on financial instruments </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,722)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">419 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(62)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,365)</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- (Gains) losses on available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">287,876 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">397,437 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">24,515 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">709,828 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- Actuarial liability (pension and healthcare plan)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">131,938 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">131,938 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Accrued supplies and services</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">91,807 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(21,791)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">70,016 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- Estimated losses on doubtful debts </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">27,749 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,949 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">29,698 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Goodwill on merger</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(123,172)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,058 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(51)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(118,165)</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Unrealized exchange differences (*)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">546,041 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">155,584 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">701,625 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- (Gain) on loss of control over Transnordestina</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(224,096)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(224,096)</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Other</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">108,196 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">22,409 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">130,605 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current assets</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,770,527 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">394,675 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">311,654 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(121,896)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,354,960 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Deferred tax liabilities</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Business combination</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">252,109 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(9,775)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(21,487)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">220,847 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Other </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16,724 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(673)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">809 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16,860 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=35% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current liabilities</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">268,833 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(10,448)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(20,678)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">237,707 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">54</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_56"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004505.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Opening balance</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=22% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Movement</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Closing balance</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Closing balance</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Comprehensive income</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Profit (loss)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Refis credit Law 12.996/14 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Deferred tax assets</font></b></font></p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Income tax loss carryforwards</font></font></p></td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">919,910 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">134,626 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(89,630)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">964,906 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Social contribution loss carryforwards</font></font></p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">389,306 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">45,211 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(32,266)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">402,251 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8.05pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Temporary differences</font></b></font></p></td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,303,782 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">388,437 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">126,944 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,819,163 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- Provision for tax, social security, labor, civil and environmental risks</font></font></p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">199,445 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,454 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">202,899 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Provision for environmental liabilities</font></font></p></td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">117,795 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(46,424)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">71,371 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Asset impairment losses</font></font></p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">47,087 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,932 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">53,019 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Inventory impairment losses</font></font></p></td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,365 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(86)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,279 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- (Gains) losses on financial instruments </font></font></p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,875)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,092)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,967)</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- (Gains) losses on available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">264,172 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">388,437 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">22,602 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">675,211 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- Actuarial liability (pension and healthcare plan)</font></font></p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">132,063 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">132,063 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Accrued supplies and services</font></font></p></td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">89,767 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(22,040)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">67,727 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- Estimated losses on doubtful debts </font></font></p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">26,179 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,643 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">27,822 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Unrealized exchange differences (*)</font></font></p></td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">546,041 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">155,584 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">701,625 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">- (Gain) on loss of control over Transnordestina</font></font></p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(224,096)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(224,096)</font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">- Other</font></font></p></td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">80,839 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,371 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">89,210 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=42% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Non-current assets</font></b></font></p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,612,998 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">388,437 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">306,781 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(121,896)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=10% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,186,320 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(*) The Company taxes foreign exchange differences on a cash basis to calculate income tax and social contribution.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Some Group companies recognized tax credits on income tax and social contribution loss carryforwards not subject to statute of limitations and based on the history of profitability and expected future taxable profits determined in technical studies approved by Management.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Since they are subject to significant factors that may change the projections for realization, the carrying amounts of deferred tax assets and projections are reviewed annually. These studies indicate the realization of these tax assets within the term stipulated by CVM Instruction 371/02 and the limit of 30% of the taxable profit.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Certain group companies have income tax and social contribution loss carryforwards in the amounts of R$2,872,260 and R$309,805, respectively, for which no deferred taxes were set up, of which R$141,466 expire in 2015, R$42,144 in 2018, R$139,555 in 2015, R$42,567 in 2027, R$64,994 in 2029, and R$80,082 in 2030.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The Company&#8217;s corporate structure includes foreign subsidiaries whose profits are subject to income tax levied by the related countries, recognized at tax rates lower than in Brazil.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">For the years from 2010 to 2014 these subsidiaries generated profits amounting to R$3,567,806, which tax authorities may understand that have already been distributed, hence, it would be subject to additional taxation in Brazil, in the approximate amount of R$1,213,054. The Company, based on its legal counsel's opinion, assessed the likelihood of loss in a potential challenge by tax authorities as possible and, therefore, no provision was recognized in the condensed interim financial statements.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Law 12,973/14</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Provisional Act 627, converted into Law 12,973 in May 2014, which revokes the Transition Tax Regime (RTT) and introduces other measures, such as: (i) amendments to Decree-Law 1,598/77, which addresses the corporate income tax and social contribution on net income law; (ii) definition that any change in or adoption of accounting methods and criteria through administrative acts issued based on a competence attributed by the commercial law shall not have any impact on the calculation of federal taxes; (iii) inclusion of a specific treatment on the taxation of profits or dividends; (iv) inclusion of provisions on the calculation of interest on capital; and (v) new considerations about investments accounted for under the equity method of accounting. The provisions established in the law are effective starting 2015, however, companies may opt for their early adoption, on an irreversible basis, in 2014.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">55</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_57"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004506.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company prepared studies on the possible effects that could arise from the application of the provisions of Law 12,973 and concluded that they do not result in material adjustments to its financial statements as of September 30, 2014 and December 31, 2013.</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0in 0in 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;">The Brazilian Tax Authority, through Normative Ruling 1,499/14, regulated the form of declaration of the option for the adoption or not of the legislation still in 2014, which will be made through the DCTF (Declaration of Federal Tax Debits and Credits) of December 2014, to be filed in February 2015, when the Company will disclose its definitive option.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(c)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Income tax and social contribution recognized in shareholders' equity:</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt 18pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The income tax and social contribution recognized directly in shareholders' equity are as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=48% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap width=48% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=48% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Income tax and social contribution</font></b></font></p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=48% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Actuarial gains on defined benefit pension plan</font></font></p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">33,012 </font></font></p></td>
 <td nowrap width=2% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">33,012 </font></font></p></td>
 <td nowrap width=2% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">32,876 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">32,876 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=48% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Changes in the fair value on available-for-sale financial assets </font></font></p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,137)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(401,574)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,137)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(392,574)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=48% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Exchange differences on translating foreign operations </font></font></p></td>
 <td nowrap width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(425,510)</font></font></p></td>
 <td nowrap width=2% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(425,510)</font></font></p></td>
 <td nowrap width=2% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(425,510)</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(425,510)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=48% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">(396,635)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">(794,072)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">(396,771)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">(785,208)</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">14.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">TAXES IN INSTALLMENTS</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The information related to taxes in installments did not have significant changes in relation to that disclosed in the Company's financial statements as of December 31, 2013 and, accordingly, the Company decided not to repeat it fully in the condensed interim financial statements as of September 30, 2014.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The position of the Refis debts and other tax installment plans, recorded in taxes in installments in current and non-current liabilities, as mentioned in note 12, is as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=18% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=4 nowrap width=22% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td colspan=3 nowrap width=20% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=18% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td nowrap width=2% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=18% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Federal REFIS Law 11,941/09 (a)</font></font></p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">158,578 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">140,446 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,016,967 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,001,630 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">134,686 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">121,399 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">852,552 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">845,838 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Federal REFIS Law 12,865/13 (a)</font></font></p></td>
 <td nowrap width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">29,541 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">27,124 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">390,523 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">384,872 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">29,849 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">27,167 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">390,523 </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">384,872 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Other taxes in installments (b)</font></font></p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">71,685 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">79,817 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">48,441 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">68,336 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">62,257 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">70,101 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">36,636 </font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">63,956 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">259,804 </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">247,387 </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,455,931 </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,454,838 </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">226,792 </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">218,667 </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,279,711 </font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,294,666 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:-0.55pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">a)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Tax Recovery Program (Federal Refis) &#8211; Law 11,941/09 and Law 12,865/13</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0cm 18pt;text-align:justify;text-indent:-18pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">New deadline &#8211; Law 11,941/09</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">On November 26, 2009, the Group companies joined the Tax Recovery Programs established by Law 11,941/09 and Provisional Act 470/2009, aimed at settling tax liabilities through a special payment system and installment plan for the settlement of tax and social security obligations. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">With the new deadline to join the Law 11,941/09 tax installment program established by the RFB/PGFN, pursuant to Laws 12,865/13, </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">12,973/14 and 12,996/14(*),&nbsp; </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">the Company analyzed with its legal counsel the lawsuits that could have changed or been subject to new jurisprudence.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;"> After the analysis, the Company concluded that there were debts that could be included in the program and applied for the Law 11,941/09 tax installment payment on December 27, 2013 and August 22, 2014, respectively.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;"> </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">56</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_58"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004507.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(*) Law 12,996/14</font></i></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Law 12,996/2014 introduced the new deadline to join the "Crisis Refis", originally governed by Law 11,941, of 2009.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company analyzed with its legal counsel the lawsuits that could have changed or been subject to new jurisprudence. After the analysis, the Company concluded that there were debts that could be included in the program and applied for the tax installment payment.</font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;"> </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Both programs establish reductions of fines and interest. The Company joined the program in the modality&nbsp; &#8220;In cash&#8221; with payment in credit from tax loss carryforwards of R$95,000 and the other lawsuits were included in the modality &#8220;180 installments&#8221; with utilization of credits from tax loss carryforwards of R$27,000. The program is subject to approval by the tax authorities.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The joining of the program above generated an impact on profit or loss as shown below:</font></font></font></p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap valign=bottom width=54% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap valign=bottom width=4% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:10.4pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Taxes</font></font></p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(50,364)</font></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(43,736)</font></font></p></td>
 </tr>
<tr style="height:6.8pt;">
  <td nowrap valign=bottom width=54% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Fines</font></font></p></td>
 <td nowrap valign=bottom width=7% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(37,399)</font></font></p></td>
 <td nowrap valign=bottom width=4% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:6.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(20,823)</font></font></p></td>
 </tr>
<tr style="height:4.75pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Interest/Legal charges</font></font></p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(210,254)</font></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;height:4.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">(205,592)</font></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap valign=bottom width=54% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td nowrap valign=bottom width=7% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(298,017)</font></b></font></p></td>
 <td nowrap valign=bottom width=4% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(270,151)</font></b></font></p></td>
 </tr>
<tr style="height:8.05pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:8.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:8.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:8.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:8.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;height:8.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:6.1pt;">
  <td nowrap valign=bottom width=54% style="height:6.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Discounts</font></b></font></p></td>
 <td nowrap valign=bottom width=7% style="height:6.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:6.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:6.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:6.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Fines</font></font></p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">25,864 </font></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">20,611 </font></font></p></td>
 </tr>
<tr style="height:9.15pt;">
  <td nowrap valign=bottom width=54% style="height:9.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Interest/Legal charges</font></font></p></td>
 <td nowrap valign=bottom width=7% style="height:9.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:9.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">85,098 </font></font></p></td>
 <td nowrap valign=bottom width=4% style="height:9.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:9.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">83,910 </font></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">110,962 </font></b></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">104,521 </font></b></font></p></td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom width=54% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:8.85pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">Provision reversal</font></font></p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">28,776 </font></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;height:8.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">28,776 </font></font></p></td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom width=54% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:9.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:3.7pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Effect before tax</font></b></font></p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">(158,279)</font></b></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:3.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">(136,854)</font></b></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap valign=bottom width=54% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:5.9pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Income tax and social contribution credit</font></font></p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">72,660 </font></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">67,591 </font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=54% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=7% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=18% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap valign=bottom width=54% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font color=black face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Statement of income net effect</font></b></font></p></td>
 <td nowrap valign=bottom width=7% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=17% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">(85,619)</font></b></font></p></td>
 <td nowrap valign=bottom width=4% style="background:#dce6f1;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=18% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">(69,263)</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0cm 18pt;text-align:justify;text-indent:-18pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Overseas profits &#8211; Law 12,865/13</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Under Article 40 of Law 12,865/13, the federal government allowed the payment in installments of income tax and social contribution arising from the application of Article &nbsp;74 of Provisional Act 2158-35/2001, the so-called overseas profits, which requires that profits earned by foreign subsidiaries or associates be taxed at yearend. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company elected to join the amounts corresponding to the assessed period (2004-2009), on November 29, 2013.&nbsp;&nbsp; &nbsp;</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Both programs provide for reductions in fines and interest, however, only income tax and social contribution debt arising from the application of Law 12,865/12 could be settled with tax credits claimed on tax loss carryforwards of subsidiaries and the parent company. The tax credit utilized by the subsidiaries total R$565,273, of which R$550,270 did not have a recognized tax credit. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The remaining balance was divided into 179 monthly installments adjusted by the SELIC and the amount determined pursuant to Laws 11,941/09 and 1,2865/13 is subject to approval by the tax authorities.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:-0.55pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">b)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Other tax installments (regular and other)</font></b></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Group companies also joined the Regular social security tax (INSS) installment plan and other plans.</font></font></font></p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">57</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_59"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<font face="Times New Roman"><div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004508.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div></font>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">15.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">PROVISION FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">As of September 30, 2014, the information related to judicial deposits and proceedings did not have significant changes in relation to that disclosed in the Company's financial statements as of December 31, 2013.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Details of the accrued amounts and related judicial deposits are as follows:</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td nowrap width=20% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=10% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=20% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=20% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Accrued liabilities</font></b></font></p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Judicial deposits</font></b></font></p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Accrued liabilities</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td width=9% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Judicial deposits</font></b></font></p></td>
 <td width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Accrued liabilities</font></b></font></p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Judicial deposits</font></b></font></p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Accrued liabilities</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td width=9% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">Judicial deposits</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=20% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">Tax</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">137,103 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">320,002 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">428,141 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">469,692 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">105,908 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">307,648 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">387,315 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">457,973 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=20% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">Social security and labor</font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">481,096 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">192,829 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">298,637 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">185,104 </font></font></p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">415,545 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">166,689 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">254,116 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">161,772 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=20% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">Civil</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">89,817 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">23,611 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">82,143 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">29,022 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">73,103 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">19,339 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">65,667 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">24,614 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=20% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">Environmental</font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">2,205 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">961 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">4,262 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">961 </font></font></p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">2,205 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">892 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">4,262 </font></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">892 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=20% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">Escrow deposits</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">8,668 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">8,935 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">5,281 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:8pt;">5,212 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=20% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">710,221 </font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">546,071 </font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">813,183 </font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">693,714 </font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">596,761 </font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">499,849 </font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">711,360 </font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font lang=PT-BR style="font-size:8pt;">650,463 </font></b></font></p></td>
 </tr>
<tr>
  <td width=20%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0in 0in 0pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.45pt;">
  <td nowrap width=20% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap width=1% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=10% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12.9pt;">
  <td nowrap width=20% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap width=1% style="background:white;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="border-top:windowtext 1pt solid;height:12.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr style="height:27.3pt;">
  <td nowrap width=20% style="background:white;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Accrued liabilities</font></b></font></p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Judicial deposits</font></b></font></p></td>
 <td nowrap width=1% style="background:white;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Accrued liabilities</font></b></font></p></td>
 <td nowrap width=1% style="height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Judicial deposits</font></b></font></p></td>
 <td width=1% style="background:white;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Accrued liabilities</font></b></font></p></td>
 <td nowrap width=1% style="background:white;border-top:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Judicial deposits</font></b></font></p></td>
 <td nowrap width=1% style="background:white;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Accrued liabilities</font></b></font></p></td>
 <td nowrap width=1% style="height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:27.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Judicial deposits</font></b></font></p></td>
 </tr>
<tr style="height:12.15pt;">
  <td nowrap width=20% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Tax</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">137,103 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">320,002 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">428,141 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">469,692 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">105,908 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">307,648 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">387,315 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">457,973 </font></font></p></td>
 </tr>
<tr style="height:11.4pt;">
  <td nowrap width=20% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Social security and labor</font></font></p></td>
 <td nowrap width=1% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">481,096 </font></font></p></td>
 <td nowrap width=1% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">192,829 </font></font></p></td>
 <td nowrap width=1% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">298,637 </font></font></p></td>
 <td nowrap width=1% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">185,104 </font></font></p></td>
 <td nowrap width=1% style="background:white;height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">415,545 </font></font></p></td>
 <td nowrap width=1% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">166,689 </font></font></p></td>
 <td nowrap width=1% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">254,116 </font></font></p></td>
 <td nowrap width=1% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">161,772 </font></font></p></td>
 </tr>
<tr style="height:12.15pt;">
  <td nowrap width=20% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Civil</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">89,817 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">23,611 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">82,143 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">29,022 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">73,103 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">19,339 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">65,667 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">24,614 </font></font></p></td>
 </tr>
<tr style="height:12.15pt;">
  <td nowrap width=20% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Environmental</font></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,205 </font></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">961 </font></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,262 </font></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">961 </font></font></p></td>
 <td nowrap width=1% style="background:white;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,205 </font></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">892 </font></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,262 </font></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">892 </font></font></p></td>
 </tr>
<tr style="height:12.15pt;">
  <td nowrap width=20% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Escrow deposits</font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,668 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,935 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,281 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,212 </font></font></p></td>
 </tr>
<tr style="height:12.15pt;">
  <td nowrap width=20% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">710,221 </font></b></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">546,071 </font></b></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">813,183 </font></b></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">693,714 </font></b></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">596,761 </font></b></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">499,849 </font></b></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">711,360 </font></b></font></p></td>
 <td nowrap width=1% style="height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;height:12.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">650,463 </font></b></font></p></td>
 </tr>
<tr>
  <td width=20%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The changes in the provisions for tax, social security, labor, civil and environmental risks in the period ended September 30, 2014 were as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12pt;">
  <td nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:15.05pt;">
  <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=4% style="border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=4% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=4% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=4% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=3 nowrap width=32% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15.05pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current + Non-current</font></b></font></p></td>
 </tr>
<tr style="height:25.5pt;">
  <td width=15% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Nature</font></b></font></p></td>
 <td width=4% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td width=4% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Additions</font></b></font></p></td>
 <td width=4% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Net adjustment</font></b></font></p></td>
 <td width=4% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=15% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Net utilization of reversal</font></b></font></p></td>
 <td width=4% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Tax</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">428,141 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">46,294 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">37,561 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(374,893)</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">137,103 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Social security</font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">47,261 </font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">12,977 </font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,833 </font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,240)</font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">59,831 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Labor</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">251,376 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">297,596 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">45,620 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(173,327)</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">421,265 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Civil </font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">82,143 </font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,944 </font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,289 </font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(26,559)</font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">89,817 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Environmental</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,262 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">443 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">294 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,794)</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,205 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">813,183 </font></b></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">363,254 </font></b></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">114,597 </font></b></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(580,813)</font></b></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">710,221 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12pt;">
  <td nowrap valign=bottom width=15% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=4% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=16% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=16% style="background:white;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:13.9pt;">
  <td nowrap rowspan=2 width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=4% style="border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=3% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=3% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=3% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=3 nowrap width=35% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p>

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current + Non-current</font></b></font></p></td>
 </tr>
<tr style="height:4.5pt;">
  <td colspan=3 nowrap width=35% style="border-bottom:windowtext 1pt solid;height:4.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 </tr>
<tr style="height:25.5pt;">
  <td width=15% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Nature</font></b></font></p></td>
 <td width=4% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td width=3% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Additions</font></b></font></p></td>
 <td width=3% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Net adjustment</font></b></font></p></td>
 <td width=3% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Net utilization of reversal</font></b></font></p></td>
 <td width=3% style="height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="border-bottom:windowtext 1pt solid;height:25.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Tax</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">387,315 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">44,635 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">36,036 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(362,078)</font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">105,908 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Social security</font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">46,537 </font></font></p></td>
 <td width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">12,197 </font></font></p></td>
 <td width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,557 </font></font></p></td>
 <td width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,240)</font></font></p></td>
 <td width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">59,051 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Labor</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">207,579 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">271,829 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">30,251 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(153,165)</font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">356,494 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Civil </font></font></p></td>
 <td width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">65,667 </font></font></p></td>
 <td width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,936 </font></font></p></td>
 <td width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">27,002 </font></font></p></td>
 <td width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(24,502)</font></font></p></td>
 <td width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">73,103 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Environmental</font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=13% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,262 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">443 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">294 </font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,794)</font></font></p></td>
 <td width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td width=16% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,205 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=4% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">711,360 </font></b></font></p></td>
 <td width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">334,040 </font></b></font></p></td>
 <td width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">97,140 </font></b></font></p></td>
 <td width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(545,779)</font></b></font></p></td>
 <td width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=16% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">596,761 </font></b></font></p></td>
 </tr>
</table></div>

<p align=right style="line-height:115%;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">58</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_60"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004509.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The provision for tax, social security, labor, civil and environmental liabilities was estimated by management and is mainly based on the legal counsel&#8217;s assessment. Only proceedings for which the risk is classified as probable loss are accrued. Moreover, this provision includes tax liabilities resulting from contingencies filed by the Company, subject to SELIC (Central Bank&#8217;s policy rate).</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The Company has tax assessment notices related to transfer of imported raw material for an amount lower than the import document, and the Rio de Janeiro state tax authorities are requiring the following: (i) difference of the ICMS levied on the operation, (ii) disallowance of the alleged ICMS credit recorded in duplicate in the tax books, and (iii) fine for non-recording of invoices. On December 31, 2013, CSN had a provision for contingencies recorded since Management, together with the internal and external legal counsel, understood that the likelihood of loss on this cause was probable. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">During the third quarter of 2014, in line with the Company&#8217;s accounting policy of continuous review of the likelihood of losses on lawsuits in progress, Management, supported by its internal and external legal counsel, reviewed the assumptions involving these tax assessment notices and, in view of the favorable previous court decision of the Superior Court of Justice and the evolution of the lawsuits, as well as the existence of new and consistent arguments to cancel the assessment notices, considered that the chances of success in these lawsuits are good and that it is no longer probable that an outflow of resources that incorporate future economic benefits will be required to settle an eventual obligation derived from an outcome unfavorable to the Company. Accordingly, Management reversed the provision for contingencies recognized through June 30, 20</font></font><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">14, in the net amount of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;"> R$162,651.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Starting September 30, 2014, the updated amount of these assessments is disclosed in the notes to the interim financial statements as contingent liability with likelihood of loss classified as possible.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font face=wingdings style="line-height:116%;"><font face=wingdings><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#167;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Other administrative and judicial proceedings</font></u></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Group is a defendant in other administrative and judicial proceedings (tax, social security, labor, civil, and environmental), in the approximate amount of R$15,970,944, of which </font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(a)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$6,912,278 refers to the tax assessment notice issued against the Company for an alleged sale of 40% of the shares of its subsidiary NAMISA to a Japanese-Korean consortium, thus failing to determine and pay taxes on the capital gain resulting from this transaction, and in May 2013, the S&#227;o Paulo (SP) Regional Judgment Office (lower administrative court) issued a decision favorable to the Company and cancelled the tax assessment notice. In light of this decision, an ex-officio appeal was filed that will be judged by the Administrative Board of Tax Appeals (CARF). In a trial the appeal was partially granted and the Company awaits the publication of the decision for the analysis of the filing of an appeal to the Superior Board of Tax Appeals. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(b)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$1,585,174 refer to the notification received &nbsp;on October 20, 2014, in which the Company had its request for installment payment of IRPJ and CSLL debts, regulated by Law 12,865/14, also known as installment payment of Profits Abroad, denied. The basis of the decision, in summary, is that there would be inconsistency in the amounts of interest declared. An hierarchical appeal was filed against this decision, stating that such interest had been paid in the installment payment program of Law 11,941/09, with a new deadline introduced by Law 12,996/14. Of the total amount informed above, the amounts provided for in the specific account of taxes in installments were excluded. The opinion of our lawyers is that the chances of success as regards the continuity of the Company in the program of installment payment of Profits Abroad, both at the administrative and judicial levels, is very good.&nbsp; </font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(c)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$716,227 refers to tax foreclosures filed to require the Company to pay the ICMS, as liable party, allegedly due on the electricity purchased from a Generating Plant and fully consumed in the manufacturing of steel products. The tax auditors believe that the use of electricity in the production process does not exclude the Company responsibility for withholding ICMS levied on delivery of this input in the plant. </font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(d)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$512,546 refers to the decision issued by the Federal Revenue Service that partially approved the request to pay debts in installments governed by Provisional Act 470/09, due to the insufficiency of tax loss carryforwards. When it consolidated the tax installment plan, the Federal Revenue Service considered the existing outstanding balance in the Inflationary Profit </font></font></font>


<font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Tax Return (SAPLI) as the correct amount: however, this balance already included the adjustments to tax loss carryforwards as a result of the Overseas Profits tax assessment notice issued against the Company. </font></font></font></p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">59</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(e)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&nbsp;R$499,482 refers to the offset of taxes that were not approved by the Federal Revenue Service for different reasons. The taxes involved are CSLL, IRPJ, IPI, PIS and COFINS. The analysis of the entire documentation evidences the right to claim credits and the right to file the offset requests, processed at the time.&nbsp; </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(f)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$459,321 refers to the assessment notice issued against the Company for an alleged nonpayment of income tax (IRPJ) and social contribution on net income (CSLL) on profits recognized in the balance sheets of its foreign subsidiaries in 2010.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0cm 35.4pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(g)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$427,791 refers to the disallowance of the ICMS credits claimed by the Company in the period 04/1999-07/2002 on the transfer of iron ore between the Casa de Pedra mine and the Presidente Vargas Plant. According to the tax auditors, the tax base used on the transfer under the Minas Gerais State Law is not accepted under the Rio de Janeiro State Law, reason why the difference was disallowed.&nbsp; </font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(h)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$248,347 refers to the disallowance of the ICMS credits on the acquisition of subsidiary INAL&#8217;s units located in the State of Rio de Janeiro. According to the tax auditors, the acquisition of a unit does not entitle an entity to claim ICMS credits. In light of these tax assessments, the Company filed for an injunction at the time and its right to change its State taxpayer master file was recognized, to state that the units acquired belong to CSN. This decision was favorable to the Company and can be applied in the judgment of our appeals by the Rio de Janeiro State Taxpayers Board. </font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(i)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$222,567 refers to transfer of imported raw material for an amount lower than the import document, and the state tax authorities are requiring the following: (i) difference of the ICMS levied on the operation, (ii) disallowance of the alleged ICMS credit recorded in duplicate in the tax books, and (iii) fine for non-recording of invoices.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0cm 35.4pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(j)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$2,525,000 refers to other tax (federal, state, and municipal) lawsuits.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(k)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">R$1,273,358 refers to labor and social security lawsuits; R$478,803 refers to civil lawsuits, and R$110,050 refers to environmental lawsuits. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The assessments made by the legal counsel define these administrative and judicial proceedings as entailing risk of possible loss and, therefore, no provision was recorded in conformity with Management&#8217;s judgment and accounting practices adopted in Brazil.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">16.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">PROVISION FOR ENVIRONMENTAL LIABILITIES AND ASSET RETIREMENT OBLIGATION - ARO</font></b></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The balance of the provision for environmental liabilities and asset retirement obligation - ARO is as follows:</font></font></font></p>

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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Environmental liabilities</font></font></p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">209,915 </font></font></p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">346,455 </font></font></p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">209,915 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">346,455 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=31% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Asset retirement obligation - ARO</font></font></p></td>
 <td nowrap width=15% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">26,246 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">23,999 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">21,104 </font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">19,261 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=31% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">236,161 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">370,454 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">231,019 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">365,716 </font></b></font></p></td>
 </tr>
<tr style="height:5.1pt;">
  <td nowrap width=31% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="background:white;height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:5.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">In the second quarter of 2014, the Company reassessed the costs with the remediation of environmental liabilities and concluded a new study of remediation alternatives for some areas in Volta Redonda (RJ) that were used as landfill by the Company in the past. The study comprised the change of the remediation technology, replacing the material removal by the </font></font></font>


<font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">on-site geotechnical confinement, as permitted by the Brazilian environmental legislation, resulting in a reversal of R$120,582. For the other liabilities, there were no significant changes as compared with the balance as of December 31, 2013.</font></font></font></p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">60</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_62"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004511.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>




<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">17.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">RELATED-PARTY BALANCES AND TRANSACTIONS </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The information related to related-party transactions did not have significant changes in relation to that disclosed in the Company's financial statements as of December 31, 2013.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">a)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Transactions with Holding Company</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;text-indent:-0.55pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Liabilities</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.1pt;">
  <td rowspan=2 width=34% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Companies</font></b></font></p></td>
 <td nowrap width=4% style="border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=62% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Paid </font></b></font></p></td>
 </tr>
<tr style="height:13.65pt;">
  <td nowrap width=4% style="height:13.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=30% style="border-bottom:windowtext 1pt solid;height:13.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Dividends</font></b></font></p></td>
 <td width=4% style="height:13.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=28% style="border-bottom:windowtext 1pt solid;height:13.65pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Interest on Capital</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=bottom width=34% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Vicunha Siderurgia</font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=30% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">203,386 </font></font></p></td>
 <td width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=28% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:8.3pt;">
  <td valign=bottom width=34% style="border-bottom:windowtext 1pt solid;height:8.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Rio Iaco</font></font></p></td>
 <td nowrap width=4% style="height:8.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=30% style="border-bottom:windowtext 1pt solid;height:8.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">16,963 </font></font></p></td>
 <td width=4% style="border-bottom:windowtext 1pt solid;height:8.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=28% style="border-bottom:windowtext 1pt solid;height:8.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=34% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=30% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">220,349 </font></b></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=28% style="background:#dce6f1;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=34% style="border-bottom:windowtext 2.25pt double;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 12/31/2013</font></b></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=30% style="border-bottom:windowtext 2.25pt double;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">471,801 </font></b></font></p></td>
 <td nowrap width=4% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=28% style="border-bottom:windowtext 2.25pt double;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">388,855 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">b)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 21.3pt;text-align:justify;text-indent:-21.3pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">By transaction</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt 21.3pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.75pt;">
  <td nowrap width=14% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=29% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap rowspan=2 width=14% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Assets</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td rowspan=2 width=8% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td rowspan=2 width=7% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td rowspan=2 width=8% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=3% style="border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=11% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Liabilities</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td rowspan=2 width=9% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td rowspan=2 width=11% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td nowrap width=4% style="border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td rowspan=2 width=10% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap width=3% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=3% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.25pt;">
  <td width=14% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Trade receivables</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">105,107 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">105,107 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=11% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other payables</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Loans</font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">533,182 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">99,522 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">632,704 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Accounts payable</font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,201 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">546 </font></font></p></td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,747 </font></font></p></td>
 </tr>
<tr style="height:23.5pt;">
  <td width=14% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Dividends receivable</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">31,535 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">31,535 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=11% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Advances from customers</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">446,928 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,910,864 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:23.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">9,357,792 </font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Actuarial asset</font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">97,051 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">97,051 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Trade payables</font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">38,975 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">38,975 </font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Short-term investments</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">11,139 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">11,139 </font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td colspan=2 nowrap width=17% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other receivables (note 6)</font></font></p></td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">14,982 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">11,655 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">26,637 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Actuarial liability</font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">684,806 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">208,228 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">893,034 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">489,104 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,922,549 </font></b></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,411,653 </font></b></font></p></td>
 </tr>
<tr style="height:12.5pt;">
  <td nowrap width=14% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">987,969 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">719,042 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,707,011 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 12/31/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">475,099 </font></b></font></p></td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,533,824 </font></b></font></p></td>
 <td nowrap width=4% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,008,923 </font></b></font></p></td>
 </tr>
<tr style="height:12.5pt;">
  <td nowrap width=14% style="background:#dce6f1;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:12.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Statement of Income</font></b></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td width=14% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Revenues</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Sales</font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">882,721 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Interest </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">36,442 </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Expenses</font></b></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Purchases</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(650,330)</font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Interest </font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(332,035)</font></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=14% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(63,202)</font></b></font></p></td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:18.85pt;">
  <td nowrap width=14% style="border-bottom:windowtext 2.25pt double;height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at <font face=Arial>9</font>/30/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 2.25pt double;height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(235,346)</font></b></font></p></td>
 <td nowrap width=3% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=4% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:18.85pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">61</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -21.3pt; MARGIN: 0cm 0cm 0pt 21.3pt"><FONT style="LINE-HEIGHT: 116%" face=symbol><FONT face=symbol><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>&#183;</FONT></FONT><FONT face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>By company</FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></FONT></P>

<DIV align=left>

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



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>&nbsp;</TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="56%" colSpan=13 noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Consolidated</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=3 width="16%" noWrap>&nbsp;</TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="23%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Assets</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="23%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Liabilities</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="32%" colSpan=7>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Statement of Income</FONT></B></FONT></P></TD></TR>

<TR>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Current</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Non-current</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Current</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Non-current</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Sales</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Purchases</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US>Finance income and costs, net</FONT></B></FONT></P></TD>

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

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total</FONT></B></FONT></P></TD></TR>

<TR>

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

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

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Subsidiaries</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Ferrovia Transnordestina Log&#237;stica S.A.<SUP> (1)</SUP></FONT></FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">47,082 </FONT></FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">99,522 </FONT></FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">146,604 </FONT></FONT></P></TD>

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

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

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

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

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

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

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

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

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

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

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">8,463 </FONT></FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">8,463 </FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">47,082 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">99,522 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">146,604 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">8,463 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">8,463 </FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Jointly controlled entities</FONT></B></FONT></P></TD>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Nacional Min&#233;rios S.A.<SUP> (2)</SUP></FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">444,626 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">444,626 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">448,618 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">8,911,410 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">9,360,028 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">236,314 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(4,917)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(314,891)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(83,494)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">MRS Log&#237;stica S.A.</FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">30,369 </FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">30,369 </FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,319 </FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,319 </FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(279,944)</FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(279,944)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Transnordestina Log&#237;stica S.A<SUP> (3)</SUP></FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">92,722 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">3,229 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">95,951 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">11,227 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">11,227 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">8,448 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">8,448 </FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">CBSI - Companhia Brasileira de Servi&#231;os e Infraestrutura</FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">6,151 </FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">3,808 </FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">9,959 </FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">9,948 </FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">9,948 </FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(115,816)</FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(115,816)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">CGPAR Constru&#231;&#227;o Pesada S.A.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">4,804 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">4,618 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">9,422 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(225,290)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(225,290)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">&nbsp;</TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">578,672 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">11,655 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">590,327 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">477,112 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">8,911,410 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9,388,522 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">236,314 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(625,967)</FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(306,443)</FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(696,096)</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Other related parties</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">CBS Previd&#234;ncia</FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">97,051 </FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">97,051 </FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">11,139 </FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">11,139 </FONT></FONT></P></TD>

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Funda&#231;&#227;o CSN</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">319 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">319 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">16 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">16 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(1,611)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">48 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(1,563)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Banco Fibra</FONT></FONT></P></TD>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,048 </FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,048 </FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Usiminas</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">46 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">46 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">11,976 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">11,976 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">58,845 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(15,348)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">43,497 </FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Panatl&#226;ntica</FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">44,426 </FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">44,426 </FONT></FONT></P></TD>

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

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

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

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

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">587,562 </FONT></FONT></P></TD>

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

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

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">587,562 </FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Ibis Participa&#231;&#245;es e Servi&#231;os</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(5,862)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(5,862)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Companhia de G&#225;s do Cear&#225; </FONT></FONT></P></TD>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(1,412)</FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(1,412)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Taquari Participa&#231;&#245;es S.A</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(130)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(130)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">&nbsp;</TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">44,791 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">97,051 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">141,842 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">11,992 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">11,139 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">23,131 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">646,407 </FONT></B></FONT></P></TD>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(24,363)</FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">1,096 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">623,140 </FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Associates</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Arvedi Metalfer do Brasil S.A.</FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">14,261 </FONT></FONT></P></TD>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">14,261 </FONT></FONT></P></TD>

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

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

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

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

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

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

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

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

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,291 </FONT></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,291 </FONT></FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total at 9/30/2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">684,806 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">208,228 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">893,034 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">489,104 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">8,922,549 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9,411,653 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">882,721 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(650,330)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(295,593)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(63,202)</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total at 12/31/2013</FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">987,969 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">719,042 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">1,707,011 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">475,099 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">8,533,824 </FONT></B></FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9,008,923 </FONT></B></FONT></P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total at 9/30/2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">639,855 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(566,213)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(308,988)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(235,346)</FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 10pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="LINE-HEIGHT: 115%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=PT-BR>1.</FONT></FONT><FONT face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=PT-BR>&nbsp;&nbsp; </FONT></FONT></FONT><FONT style="LINE-HEIGHT: 115%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=PT-BR>Refers to loans of the subsidiary FTL - Ferrovia Transnordestina Log&#237;stica S.A to the jointly controlled entity Transnordestina Log&#237;stica S.A.</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>2.</FONT></FONT><FONT face="times new roman"><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp; </FONT></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>Nacional Min&#233;rios S.A: </FONT></FONT><FONT face=Arial,sans-serif><I><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>Asset:</FONT></U></I></FONT><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US> Refers mainly to prepayment transactions with the indirect subsidiaries CSN Europe, CSN Export and CSN Ib&#233;ria. Contracts in US$: interest equivalent to 5.37% to 6.80% p.a. with final maturity in June 2015. As of September 30, 2014, borrowings total R$378,804 (R$360,990 as of December 31, 2013) classified in short term.</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><I><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>Liabiliy:</FONT></U></I></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US> </FONT></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>The advance from customer received from jointly controlled entity Nacional Min&#233;rios S.A. refers to the contractual obligation of supply of iron ore and port services. The contract is subject to interest rate of 12.5% p.a. and expires in September 2042.</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt 14.2pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>3.</FONT></FONT><FONT face="times new roman"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp; </FONT></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>Transnordestina Log&#237;stica S.A: Contracts in R$: interest equivalent to 102.00% of the CDI with final maturity in March 2016. As of September 30, 2014, borrowings total R$92,722 (R$270,693 as of December 31, 2013) classified in short term.</FONT></FONT></FONT></P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV>

<DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">&nbsp;</P></DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>PAGE </FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>62</FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR> of 83</FONT></FONT></P>

<DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">&nbsp;</P></DIV></DIV></DIV>

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<font face="Times New Roman"><div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt 21.3pt;text-align:justify;text-indent:-21.3pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">By transaction</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:13pt;">
  <td nowrap width=12% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=7 nowrap width=24% style="border-bottom:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=29% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=9% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap rowspan=2 width=12% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Assets</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td rowspan=2 width=7% style="border-bottom:black 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 rowspan=2 width=6% style="border-bottom:black 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=1% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap rowspan=2 width=29% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Liabilities</font></b></font></p></td>
 <td colspan=3 nowrap width=3% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 rowspan=2 width=7% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 rowspan=2 width=9% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:21.1pt;">
  <td nowrap width=2% style="height:21.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:21.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:21.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=1% style="height:21.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=3% style="height:21.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=3% style="height:21.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=3% style="height:21.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td width=12% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Trade receivables (1)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">660,030 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=8% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=5% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">660,030 </font></font></p></td>
 <td width=1% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=30% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Borrowings and financing</font></b></font></p></td>
 <td colspan=2 nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=8% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=8% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=9% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap width=12% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Loans</font></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">112,643 </font></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">32,427 </font></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">145,070 </font></font></p></td>
 <td nowrap width=1% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=31% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Prepayment </font></font></p></td>
 <td nowrap width=1% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">116,555 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,525,282 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=9% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,641,837 </font></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td width=12% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Dividends receivable</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">104,552 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">104,552 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=4 nowrap width=32% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Fixed rate notes and intercompany bonds </font></font></p></td>
 <td nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,129,411 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,470,600 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=9% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,600,011 </font></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap width=12% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Actuarial asset</font></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">96,665 </font></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">96,665 </font></font></p></td>
 <td nowrap width=1% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap width=32% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Related parties borrowings </font></font></p></td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">193,089 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,682,542 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=9% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,875,631 </font></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap width=12% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Short-term and other investments (2)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">288,688 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">65,746 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">354,434 </font></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=4 width=32% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other payables</font></b></font></p></td>
 <td nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=9% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap width=12% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other receivables <sup>(note 6)</sup></font></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">21,575 </font></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">141,871 </font></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">163,446 </font></font></p></td>
 <td nowrap width=1% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap width=32% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Accounts payable</font></font></p></td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">47,380 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">568,382 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=9% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">615,762 </font></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap width=12% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=4 width=32% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Advances from customers (3)</font></font></p></td>
 <td nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">446,928 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,910,864 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=9% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">9,357,792 </font></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap width=12% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap width=32% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Trade payables</font></font></p></td>
 <td nowrap width=6% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">91,073 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=7% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=9% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">91,073 </font></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td width=12% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=4 nowrap width=32% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Actuarial liability</font></font></p></td>
 <td nowrap width=6% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">11,118 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=9% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">11,118 </font></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap width=12% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,187,488 </font></b></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">336,709 </font></b></font></p></td>
 <td nowrap width=2% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=6% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,524,197 </font></b></font></p></td>
 <td nowrap width=1% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=4 nowrap width=32% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=6% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,024,436 </font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=7% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">18,168,788 </font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=9% style="border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">20,193,224 </font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13pt;">
  <td nowrap width=12% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,570,254 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">624,850 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=6% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,195,104 </font></b></font></p></td>
 <td nowrap width=1% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=4 nowrap width=32% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 12/31/2013</font></b></font></p></td>
 <td nowrap width=6% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,302,367 </font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 nowrap width=7% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">15,574,882 </font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=9% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">17,877,249 </font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=12%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=7%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=6%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=29%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=6%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=6%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=7%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:25%;">
 <tr style="height:15pt;">
  <td nowrap width=85% style="background:#dce6f1;height:15pt;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:15pt;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Statement of Income</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td width=85% style="height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Revenues</font></b></font></p></td>
 <td nowrap width=15% style="height:12.95pt;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="background:#dce6f1;height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Sales</font></font></p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,345,410 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Interest </font></font></p></td>
 <td nowrap width=15% style="height:12.95pt;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,033 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="background:#dce6f1;height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Exclusive Funds</font></font></p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">56,341 </font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="height:12.95pt;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;">&nbsp;</td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="background:#dce6f1;height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Expenses</font></b></font></p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Purchases</font></font></p></td>
 <td nowrap width=15% style="height:12.95pt;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(982,443)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="background:#dce6f1;height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Interest </font></font></p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,279,220)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;text-indent:16pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Exchange differences</font></font></p></td>
 <td nowrap width=15% style="height:12.95pt;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(395,695)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.95pt;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,754,426 </font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=85% style="background:#dce6f1;height:12.95pt;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.95pt;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,113,205 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">1.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Related parties receivables arise from product sales and service transactions between the parent and its subsidiaries and jointly controlled entities.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">2.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Short-term investments total R$288,688 as of September 30, 2014 (R$100,560 as of December 31, 2013) and investments in Usiminas shares classified as available-for-sale total R$65,746 (R$134,543 as of December 31, 2013).</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0cm 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">3.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">Nacional Min&#233;rios S.A.: The advance from customer received from jointly controlled entity Nacional Min&#233;rios S.A. refers to the contractual obligation of supply of iron ore and port services. The contract is subject to interest rate of 12.5% p.a. and expires in September 2042.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">63</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_65"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004514.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt 21.3pt;text-align:justify;text-indent:-21.3pt;"><font face=symbol style="line-height:116%;"><font face=symbol><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">By company</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=13 nowrap width=54% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap rowspan=3 width=15% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 width=22% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Assets</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 width=22% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Liabilities</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=9 width=35% style="border-bottom:#000000 1px solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Statement of Income</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Current</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Non-current</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Sales</font></b></font></p></td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Purchases</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Finance income and costs, net</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Exchange differences, net</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Subsidiaries</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Companhia Sider&#250;rgica Nacional, LLC</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">37,044 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">37,044 </font></font></p></td>
 <td align=right width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,375 </font></font></p></td>
 <td align=right width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">674 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,049 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Portugal, Unipessoal Lda.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,979)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,159)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,138)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Europe Lda.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,742 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">75,294 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">81,036 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(628)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,330)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,958)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Resources S.A. <sup>(1)</sup></font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,202,276 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,461,187 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">6,663,463 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(221,272)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(289,921)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(511,193)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">CSN Export Europe, S.L.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">78,829 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">78,829 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Lusosider A&#231;os Planos, S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">36,038 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">36,038 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(798)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,862 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,064 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Handel GmbH <sup>(2)</sup></font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">237,192 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">237,192 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,483,358 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(6,012)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,477,346 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Islands XII Corp. <sup>(3)</sup></font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">21,920 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,236,530 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,258,450 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(35,800)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(93,996)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(129,796)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Ib&#233;ria Lda.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">63,088 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">63,088 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,092)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,813)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,905)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Companhia Metal&#250;rgica Prada <sup>(4)</sup></font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">198,302 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,800 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">201,102 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">24,539 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">196 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">24,735 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">733,936 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(106,276)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">627,660 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Cimentos S.A.<sup> (5)</sup></font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">17,271 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">17,271 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">302 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">378,297 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">378,599 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">153,024 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,066)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(27,353)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">120,605 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Companhia Metalic Nordeste</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">357 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">357 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">32 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">32 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">26,431 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(352)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">26,079 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Estanho de Rond&#244;nia S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,852 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,115 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,967 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(8,474)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(8,474)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Florestal Brasil S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,017 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,017 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Sepetiba Tecon S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">77,476 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">77,476 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,620 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,620 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,069 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,673)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">246 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(358)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Congonhas Min&#233;rios S.A. <sup>(6)</sup></font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">130,288 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,860,632 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,990,920 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(165,959)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(165,959)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Ferrovia Transnordestina Log&#237;stica S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">29,473 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">29,473 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">171,036 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">171,036 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Energia S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">45,689 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">45,689 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(183,391)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(183,391)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Companhia Brasileira de Latas</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">28,486 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">78,193 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">106,679 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">26,745 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">26,745 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">60,496 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,689)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">54,807 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Stahlwerk Th&#252;ringen GmbH</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(19,394)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(19,394)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">635,018 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">125,598 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">760,616 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,539,982 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,246,260 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">10,786,242 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,462,689 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(332,113)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(456,837)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(395,695)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,278,044 </font></b></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Jointly controlled entities</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Nacional Min&#233;rios S.A. </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">65,880 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">65,880 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">448,566 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,911,410 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,359,976 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">236,314 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,917)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(822,137)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(590,740)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Transnordestina Log&#237;stica S.A.</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">92,722 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">35,433 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">128,155 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,448 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,448 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">MRS Log&#237;stica S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">30,369 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">30,369 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,302 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,302 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(279,944)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(279,944)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CBSI - Companhia Brasileira de Servi&#231;os e Infraestrutura</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">6,151 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,808 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,959 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,594 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,594 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(115,816)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(115,816)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CGPAR Constru&#231;&#227;o Pesada S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,608 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,236 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">18,844 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(225,290)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(225,290)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">204,730 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">48,477 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">253,207 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">472,462 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,911,410 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,383,872 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">236,314 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(625,967)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(813,689)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,203,342)</font></b></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other related parties</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CBS Previd&#234;ncia</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">96,665 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">96,665 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">11,118 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">11,118 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Funda&#231;&#227;o CSN</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">319 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">223 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">542 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">16 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">16 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,611)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">48 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,563)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Usiminas</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">46 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">46 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">11,976 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">11,976 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">58,845 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,348)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">43,497 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Panatl&#226;ntica</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">44,426 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">44,426 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">587,562 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">587,562 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Ibis Participa&#231;&#245;es e Servi&#231;os</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,862)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,862)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Companhia de G&#225;s do Cear&#225; </font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,412)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,412)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Taquari Participa&#231;&#245;es S.A</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(130)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(130)</font></font></p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">44,791 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">96,888 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">141,679 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">11,992 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">11,118 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">23,110 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">646,407 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(24,363)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">48 </font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">622,092 </font></b></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Associates</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Arvedi Metalfer do Brasil S.A.</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,261 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,261 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,291 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,291 </font></font></p></td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td width=15% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Exclusive funds</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Diplic, Mugen e V&#233;rtice</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">288,688 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">65,746 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">354,434 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">56,341 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">56,341 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,187,488 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">336,709 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,524,197 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,024,436 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">18,168,788 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">20,193,224 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,345,410 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(982,443)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,212,846)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(395,695)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,754,426 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=15% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 12/31/2013</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,570,254 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">624,850 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,195,104 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,302,367 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">15,574,882 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">17,877,249 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total at 9/30/2013</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,763,514 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(970,827)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,113,713)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(565,769)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,113,205 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">1.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">CSN Resources S.A.: Contracts in dollars of Prepayment, Fixed Rate Notes and Intercompany Bonds, interest of 9.13% with final maturity in June 2047. As of September 30, 2014, borrowings total R$6,663,463 (R$5,605,934 as of December 31, 2013) of which R$1,202,276 is classified in short term and R$5,461,187 is classified in long term.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt 36pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">2.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">CSN Handel GMBH: Receivables of R$237,192 as of September 30, 2014 (R$303,073 as of December 31, 2013), classified in short term. Refer to sales transactions on mining products. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0cm 35.4pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">3.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">CSN Islands XII Corp: Contracts in US$:</font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;"> interest of 7.64% with final maturity in February 2025. As of September 30, 2014, borrowings total R$1,258,450 (R$353,569 as of December 31, 2013) of which R$21,920 is classified in short term and R$1,236,530 is classified in long term.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0cm 35.4pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">4.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Companhia Metal&#250;rgica Prada: Receivables of R$198,302 as of September 30, 2014 (R$201,726 as of December 31, 2013), classified in short term. Refers to the purchase of steel.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0cm 35.4pt;">&nbsp;</p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">64</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:char;">5.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:char;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:char;">CSN Cimentos S.A.:</font></font><font color=#1f497d face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:char;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:char;">Payables of R$378,297 as of September 30, 2014 (R$350,943 as of December 31, 2013), classified in long term related to the purchase of the clinker plant.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0cm 35.4pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">6.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Congonhas Min&#233;rios S.A.: Contracts in R$:</font></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;"> interest of 101.50% of the CDI with final maturity in March 2018. As of September 30, 2014, borrowings total R$1,972,613 (R$1,930,194 as of December 31, 2013) of which R$130,288 is classified in short term and R$1,842,325 is classified in long term.</font></font></font></p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">c)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Key management personnel</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The key management personnel, who have authority and responsibility for planning, directing and controlling the Company&#8217;s activities, include the members of the Board of Directors and statutory directors. The following is information on the compensation of such personnel and the related balances as of September 30, 2014.</font></font></font></p>

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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
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  <td nowrap valign=bottom width=64% style="height:15.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Statement of Income</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Short-term benefits for employees and officers</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">31,867 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">26,705 </font></font></p></td>
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  <td nowrap valign=bottom width=64% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Post-employment benefits</font></font></p></td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">52 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">94 </font></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other long-term benefits</font></font></p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">n/a</font></font></p></td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">n/a</font></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Severance benefits</font></font></p></td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">n/a</font></font></p></td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">n/a</font></font></p></td>
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   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Share-based compensation</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">n/a</font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">n/a</font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=64% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">31,919 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">26,799 </font></b></font></p></td>
 </tr>
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<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">n/a &#8211; Not applicable</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">18.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">SHAREHOLDERS' EQUITY</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">i. Paid-in capital </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Fully subscribed and paid-in capital as of September 30, 2014 and December 31, 2013 is R$4,540,000 represented by 1,387,524,047 book-entry common shares (1,457,970,108 as of December 31, 2013), without par value. Each common share entitles its holder to one vote in Shareholders&#8217; Meetings. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">ii. Authorized capital</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company&#8217;s bylaws in effect as of September 30, 2014 determine that the capital can be raised to up to 2,400,000,000 shares by decision of the Board of Directors.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">iii Legal reserve</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">This reserve is recognized at the rate of 5% of the profit for each period, as provided for by Article &nbsp;193 of Law 6,404/76, up to the ceiling of 20% of share capital.&nbsp;&nbsp; </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">iv Ownership structure</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">As of September 30, 2014, the Company&#8217;s ownership structure was as follows:</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

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<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">65</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
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   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
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<tr style="height:34.5pt;">
  <td nowrap width=30% style="height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Number of common shares</font></font></p></td>
 <td nowrap width=3% style="height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">% of total shares</font></font></p></td>
 <td nowrap width=3% style="height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=11% style="border-bottom:windowtext 1pt solid;height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">% voting capital</font></font></p></td>
 <td nowrap width=3% style="height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=12% style="border-bottom:windowtext 1pt solid;height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Number of common shares</font></font></p></td>
 <td nowrap width=3% style="height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=11% style="border-bottom:windowtext 1pt solid;height:34.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">% of total shares</font></font></p></td>
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<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Vicunha Siderurgia S.A.</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">697,719,990</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">50.29%</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">50.53%</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">697,719,990</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">47.86%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Rio Iaco Participa&#231;&#245;es S.A. (*)</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">58,193,503</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4.19%</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4.21%</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">58,193,503</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3.99%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Caixa Beneficente dos Empregados da CSN - CBS</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">12,788,231</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">0.92%</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">0.93%</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">12,788,231</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">0.88%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">BNDES Participa&#231;&#245;es S.A. - BNDESPAR</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,794,890</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">0.63%</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">0.64%</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">8,794,890</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">0.60%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">NYSE (ADRs)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">349,973,683</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">25.22%</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">25.35%</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">356,019,691</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">24.42%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">BM&amp;FBovespa</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">253,262,450</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">18.25%</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">18.34%</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">324,453,803</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">22.25%</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,380,732,747 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">99.51%</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100.00%</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,457,970,108 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100.00%</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Treasury shares</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font color=black face=arial,sans-serif><font style="font-size:8pt;">6,791,300</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">0.49%</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=30% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total shares</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,387,524,047 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100.00%</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,457,970,108 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100.00%</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(*) Rio Iaco Participa&#231;&#227;o S. A. is a company part of the control group.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">v. Treasury shares</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font color=black face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">The Board of Directors authorized several programs for repurchase of shares issued by the Company, to be held in treasury for subsequent sale or cancelation in order to maximize the generation of value to the shareholder through an efficient capital structure management, as shown in the table below:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:37.95pt;">
  <td width=7% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Program</font></font></p></td>
 <td nowrap width=3% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Board Authorization</font></font></p></td>
 <td width=3% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Quantity authorized</font></font></p></td>
 <td width=3% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=10% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Term of the program</font></font></p></td>
 <td width=3% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Average purchase price</font></font></p></td>
 <td width=3% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=7% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Minimum and maximum purchase price</font></font></p></td>
 <td width=3% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=8% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Quantity acquired</font></font></p></td>
 <td width=4% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Share cancellations</font></font></p></td>
 <td width=3% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=3% style="height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=9% style="border-bottom:windowtext 1pt solid;height:37.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Balance in treasury </font></font></p></td>
 </tr>
<tr style="height:16.1pt;">
  <td nowrap width=7% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">1&#186;</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">3/13/2014</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">70,205,661 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">From 3/14/2014 to 4/14/2014</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$ 9.34 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$ 9.22 e R$ 9.45</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,350,000 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;border-top:windowtext 1pt solid;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:16.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,350,000 </font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">2&#186;</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">4/15/2014</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">67,855,661 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">From 4/16/2014 to 5/23/2014</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$ 8.97 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$ 8,70 e R$ 9.48</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">9,529,500 </font></font></p></td>
 <td nowrap width=4% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">11,879,500 </font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">3&#186;</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">5/23/14</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">58,326,161 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">From 5/26/2014 to 6/25/2014</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$ 9.21 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$ 8.61 e R$ 9.72</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">31,544,500 </font></font></p></td>
 <td nowrap width=4% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">43,424,000 </font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">4&#186;</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">6/26/14</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">26,781,661 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">From 6/26/2014 to 7/17/2014</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$ 10.42 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$ 9.33 e R$ 11.54</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">26,781,661 </font></font></p></td>
 <td nowrap width=4% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">70,205,661 </font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">7/18/14</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">Non applicable</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">Non applicable</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">60,000,000 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><sup><font face=arial,sans-serif><font style="font-size:8pt;">(1)</font></font></sup></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,205,661 </font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">5&#186;</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">7/18/14</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">64,205,661 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">From 7/18/2014 to 8/18/2014 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$ 11.40 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">$11.40</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">240,400 </font></font></p></td>
 <td nowrap width=4% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,446,061 </font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">8/19/14</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">Non applicable</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">Non applicable</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,446,061 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><sup><font face=arial,sans-serif><font style="font-size:8pt;">(1)</font></font></sup></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">- </font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">6&#186;</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">8/19/14</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">63,161,055 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=10% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">From 8/19/2014 to 9/25/2014 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$ 9.82 </font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$ 9.47 e R$ 10.07</font></font></p></td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,791,300 </font></font></p></td>
 <td nowrap width=4% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=9% style="height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,791,300 </font></font></p></td>
 </tr>
<tr style="height:13.1pt;">
  <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">7&#186; (*)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">9/29/14</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">56,369,755 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">From 9/29/2014 to 12/29/2014 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=7% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=8% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=4% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=9% style="background:#dce6f1;height:13.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(*) Until September 30, 2014 there was no repurchase of shares under this program.&nbsp; </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 14.2pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">1.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">On July 18, 2014 and&nbsp; August 19, 2014, the Board of Directors approved the cancelation of 60,000,000 and 10,446,061 shares held in treasury, respectively, without any change in the amount of the Company&#8217;s capital.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">As of September 30, 2014, the position of the treasury shares was as follows:</font></font></font></p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">66</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_68"></a>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004602.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<div style="padding-left:0%;padding-right:0%;">

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.95pt;">
  <td nowrap width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Quantity</font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Total amount</font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 rowspan=2 width=40% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Share price</font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Share</font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap width=18% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">acquired</font></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">paid/payable</font></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=18% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">market price</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=18% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">(in units) </font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">for the shares</font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Minimum</font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=10% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Maximum</font></font></p></td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Average</font></font></p></td>
 <td nowrap width=3% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=18% style="border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">at 9/30/2014 (*)</font></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=18% style="background:#dce6f1;border-top:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,791,300 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$ 66,670 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$9.47 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=10% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$10.07 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$9.82 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=18% style="background:#dce6f1;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8.5pt;">R$ 59,220 </font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">(*) The quotation of the shares on the BM&amp;FBovespa as of September 30, 2014, of R$8.72 per share, was used.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">19.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">DIVIDENDS AND INTEREST ON CAPITAL</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">On February 28, 2014, the Board of Directors approved the proposal for payment, as advance of mandatory minimum dividend, from the retained earnings reserve (statutory reserve of working capital), the amount of R$425,000 in dividends, corresponding to R$ 0.29150 per share.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">20.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">NET SALES REVENUE</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">Net sales revenue is comprised as follows:</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:14.1pt;">
  <td nowrap valign=bottom width=28% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated </font></b></font></p></td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap valign=bottom width=28% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=33% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=33% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap valign=bottom width=28% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Gross revenue</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Domestic market</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,083,008 </font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,728,602 </font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,256,166 </font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,699,436 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Foreign market</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,659,461 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,210,529 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,420,550 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,846,759 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">14,742,469 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">14,939,131 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,676,716 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">5,546,195 </font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Deductions </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cancelled sales and discounts</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(99,249)</font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(141,184)</font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(45,016)</font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(48,858)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Taxes levied on sales</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,336,949)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,434,346)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(748,714)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(835,921)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,436,198)</font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,575,530)</font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(793,730)</font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(884,779)</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Net revenue</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,306,271 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,363,601 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,882,986 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,661,416 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:14.1pt;">
  <td nowrap valign=bottom width=28% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company </font></b></font></p></td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap valign=bottom width=28% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=33% style="border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=33% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap valign=bottom width=28% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:14.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Gross revenue</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Domestic market</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,209,018 </font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">9,901,371 </font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,918,104 </font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,393,243 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Foreign market</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,760,901 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,287,710 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">874,509 </font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,123,363 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">11,969,919 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,189,081 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,792,613 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,516,606 </font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Deductions </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cancelled sales and discounts</font></font></p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(88,039)</font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(141,918)</font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(40,874)</font></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(51,687)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Taxes levied on sales</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,068,932)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,175,033)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(659,403)</font></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(734,089)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,156,971)</font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,316,951)</font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(700,277)</font></b></font></p></td>
 <td align=right nowrap width=3% style="background:white;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(785,776)</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=28% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Net revenue</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,812,948 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,872,130 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,092,336 </font></b></font></p></td>
 <td align=right nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,730,830 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">67</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

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<div style="page-break-before:always;">&nbsp;</div>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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  <td>&nbsp;</td>
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   <img height=54 src="x14112610004603.jpg" width=118></td>
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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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</table></div></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">21.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">EXPENSES BY NATURE</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated </font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=30% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=31% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="background:white;border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:white;border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="background:white;border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Raw materials and inputs </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,019,809)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,370,900)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,302,431)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,533,895)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Labor cost </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,253,600)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,170,721)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(442,531)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(415,768)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Supplies </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(778,729)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(833,407)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(267,854)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(291,798)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Maintenance cost (services and materials) </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(798,535)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(954,140)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(271,004)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(355,144)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Outsourcing services </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,747,501)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,580,926)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(670,504)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(556,985)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 nowrap valign=bottom width=37% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Depreciation, amortization and depletion (Note 8 a)</font></font></p></td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(907,339)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(822,720)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(325,745)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(272,176)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(217,682)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(403,520)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(10,414)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(148,098)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(9,723,195)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(10,136,334)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(3,290,483)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(3,573,864)</font></b></font></p></td>
 </tr>
<tr style="height:6pt;">
  <td nowrap valign=bottom width=35% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Classified as: </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cost of sales (Note 24)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(8,693,082)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(9,131,010)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,911,961)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,259,211)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Selling expenses (Note 24)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(691,619)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(666,415)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(268,052)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(208,791)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">General and administrative expenses (Note 24)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(338,494)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(338,909)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(110,470)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(105,862)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(9,723,195)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(10,136,334)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(3,290,483)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(3,573,864)</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.25pt;">
  <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company </font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=30% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=31% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=35% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="background:white;border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:white;border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:white;border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Raw materials and inputs </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,673,781)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,030,604)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(912,698)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,082,040)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Labor cost </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,027,677)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(933,033)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(373,550)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(326,036)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Supplies </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(746,274)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(797,730)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(257,831)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(277,844)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Maintenance cost (services and materials) </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(777,208)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(919,819)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(264,074)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(344,084)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Outsourcing services </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,123,789)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,081,322)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(401,225)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(413,456)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 nowrap valign=bottom width=37% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Depreciation, amortization and depletion (Note 8 a)</font></font></p></td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(746,930)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(677,653)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(270,252)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(224,970)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(170,796)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(410,283)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(17,271)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(157,651)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(7,266,455)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(7,850,444)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,496,901)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,826,081)</font></b></font></p></td>
 </tr>
<tr style="height:6pt;">
  <td nowrap valign=bottom width=35% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:6pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Classified as: </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cost of sales (Note 24)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(6,661,971)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,248,285)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,290,584)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,626,539)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Selling expenses (Note 24)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(324,964)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(366,150)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(113,556)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(126,726)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">General and administrative expenses (Note 24)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(279,520)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(236,009)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(92,761)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(72,816)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8.05pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(7,266,455)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(7,850,444)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,496,901)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,826,081)</font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">68</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_70"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004604.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">22.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">OTHER OPERATING INCOME (EXPENSES) </font></b></font></font></p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:11.7pt;">
  <td nowrap valign=bottom width=41% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=29% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=4% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=16% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated </font></b></font></p></td>
 </tr>
<tr style="height:11.7pt;">
  <td nowrap valign=bottom width=41% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=29% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=7 nowrap width=26% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:11.7pt;">
  <td nowrap valign=bottom width=41% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 1pt solid;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=12% style="background:white;border-bottom:windowtext 1pt solid;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 1pt solid;height:11.7pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other operating income </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Lawsuit indemnities/wins</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,106 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,732 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">868 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,081 </font></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap width=41% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Rentals and leases</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">804 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">602 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">276 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">200 </font></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap width=41% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Reversal of provisions</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">20,790 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">17,654 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,072)</font></font></p></td>
 </tr>
<tr style="height:4.15pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other revenues</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">19,237 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,955 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,673 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,874 </font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=41% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">44,937 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">35,289 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">27,471 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">10,083 </font></b></font></p></td>
 </tr>
<tr style="height:5.3pt;">
  <td nowrap valign=bottom width=41% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:5.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other operating expenses</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:12.45pt;">
  <td nowrap valign=bottom width=41% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Taxes and fees</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(20,112)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(32,572)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,420)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12.45pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,153)</font></font></p></td>
 </tr>
<tr style="height:27.15pt;">
  <td valign=bottom width=41% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Provision for tax, social security, labor, civil and environmental risks,<br>net of reversals</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,180)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(155,101)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,322 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:27.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(44,516)</font></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Contractual, nondeductible fines</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,080)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,845)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(19)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">13,293 </font></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Depreciation of unused equipment (Note 8 a)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(27,216)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(46,164)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(8,657)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(17,219)</font></font></p></td>
 </tr>
<tr style="height:8.1pt;">
  <td nowrap valign=bottom width=41% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Residual value of permanent assets written off (Note 8)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(12,935)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(26,805)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,114)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:8.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(970)</font></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Inventory impairment losses/reversals (Note 5)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,250)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16,262 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,317 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(431)</font></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Spare losses</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(20,651)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(20,651)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Expenses on studies and project engineering</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(38,829)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(45,466)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,550)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(20,576)</font></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Pension plan expenses </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(43,074)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(35,051)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,522)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(13,325)</font></font></p></td>
 </tr>
<tr style="height:13.25pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Impairment of available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(72,104)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,002)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(19,989)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:13.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:4.15pt;">
  <td nowrap valign=bottom width=41% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">REFIS effect Law n&#186; 11.941/09 and Law n&#186; 12.996/14, net</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(37,308)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(37,308)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4.15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:7.35pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other expenses</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(17,355)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(73,648)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,905 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:7.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(42,744)</font></font></p></td>
 </tr>
<tr style="height:7.8pt;">
  <td nowrap valign=bottom width=41% style="height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(316,094)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(407,392)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(90,686)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(142,641)</font></b></font></p></td>
 </tr>
<tr style="height:8.75pt;">
  <td nowrap valign=bottom width=41% style="background:#dce6f1;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Other operating income (expenses), net</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(271,157)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(372,103)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(63,215)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:8.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(132,558)</font></b></font></p></td>
 </tr>
<tr>
  <td width=41%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=4%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:10.4pt;">
  <td nowrap valign=bottom width=42% style="height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=36% style="border-bottom:windowtext 1pt solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="border-bottom:#000000 1px solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="border-bottom:#000000 1px solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="border-bottom:#000000 1px solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company </font></b></font></p></td>
 </tr>
<tr style="height:10.4pt;">
  <td nowrap valign=bottom width=42% style="height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=27% style="border-bottom:windowtext 1pt solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=8 nowrap width=27% style="border-bottom:#000000 1px solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:10.4pt;">
  <td nowrap valign=bottom width=42% style="height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="background:white;border-bottom:windowtext 1pt solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 1pt solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=10% style="background:white;border-bottom:windowtext 1pt solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td colspan=2 nowrap width=2% style="background:white;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:10.4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:7.8pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other operating income </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:7.8pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=42% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Lawsuit indemnities/wins</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,492 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,823 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">813 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,081 </font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=42% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Rentals and leases</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">804 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">602 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">276 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">200 </font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap width=42% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Reversal of provisions</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,136 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(34,862)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(35,755)</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other revenues</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,934 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">7,829 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,448 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,657 </font></font></p></td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap valign=bottom width=42% style="height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,366 </font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(23,608)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,537 </font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(28,817)</font></b></font></p></td>
 </tr>
<tr style="height:3.5pt;">
  <td nowrap valign=bottom width=42% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:3.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other operating expenses</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=42% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Taxes and fees</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,313)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(20,552)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(482)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:11.1pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,364)</font></font></p></td>
 </tr>
<tr style="height:17.55pt;">
  <td valign=bottom width=42% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Provision for tax, social security, labor, civil and environmental risks,<br>net of reversals</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,818 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(155,368)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">44,443 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:17.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(45,157)</font></font></p></td>
 </tr>
<tr style="height:4pt;">
  <td nowrap valign=bottom width=42% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Contractual, nondeductible fines</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(6,744)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">207 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:4pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">13,412 </font></font></p></td>
 </tr>
<tr style="height:5.9pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Depreciation of unused equipment (Note 8 a)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(714)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(21,320)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:5.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,171)</font></font></p></td>
 </tr>
<tr style="height:10.3pt;">
  <td nowrap valign=bottom width=42% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Residual value of permanent assets written off (Note 8)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(11,970)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,771)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(6,880)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:10.3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(509)</font></font></p></td>
 </tr>
<tr style="height:7.55pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Inventory impairment losses/reversals (Note 5)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">253 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16,178 </font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,431 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:7.55pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,361 </font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap valign=bottom width=42% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Spare losses</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(20,651)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(20,651)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Expenses on studies and project engineering</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(38,409)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(44,708)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,434)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:7.9pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(20,287)</font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap valign=bottom width=42% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Pension plan expenses </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(43,074)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(35,066)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,522)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(13,329)</font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Impairment of available-for-sale financial assets</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(66,476)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,369)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(18,429)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap valign=bottom width=42% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">REFIS effect Law n&#186; 11.941/09 and Law n&#186; 12.996/14, net</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(19,853)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(19,853)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other expenses</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(9,726)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(64,886)</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,552 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(39,133)</font></font></p></td>
 </tr>
<tr style="height:11.75pt;">
  <td nowrap valign=bottom width=42% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(222,859)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(336,862)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=10% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(42,618)</font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(114,177)</font></b></font></p></td>
 </tr>
<tr style="height:3.25pt;">
  <td nowrap valign=bottom width=42% style="background:#dce6f1;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Other operating income (expenses), net</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(210,493)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(360,470)</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dce6f1;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=10% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(40,081)</font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="background:#dce6f1;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=15% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;height:3.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(142,994)</font></b></font></p></td>
 </tr>
<tr>
  <td width=42%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=7%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=11%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">23.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">FINANCE INCOME (COSTS)</font></b></font></font></p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">69</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_71"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004605.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=27% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated </font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=42% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=27% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=8 nowrap width=27% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=42% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td colspan=2 nowrap width=5% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Finance income</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Related parties (Note 17 b)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">36,442 </font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">772 </font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">14,047 </font></font></p></td>
 <td colspan=2 nowrap width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">362 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td width=42% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Income from short-term investments </font></font></p></td>
 <td valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">59,898 </font></font></p></td>
 <td valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">100,110 </font></font></p></td>
 <td width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">19,338 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">42,271 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=42% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Gains on derivatives (*)</font></font></p></td>
 <td valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=11% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,183)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other income</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">37,877 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">56,500 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">12,533 </font></font></p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">16,647 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">134,217 </font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">157,382 </font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">42,735 </font></b></font></p></td>
 <td colspan=2 nowrap width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">59,280 </font></b></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Finance costs</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Borrowings and financing - foreign currency</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(512,832)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(545,945)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(184,154)</font></font></p></td>
 <td colspan=2 nowrap width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(186,987)</font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Borrowings and financing - local currency</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,335,016)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,117,087)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(460,091)</font></font></p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(426,856)</font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Related parties (Note 17 b)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(332,035)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(309,760)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(112,422)</font></font></p></td>
 <td colspan=2 nowrap width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(104,759)</font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=42% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Capitalized interest (Notes 8 and 29)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">123,755 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">374,902 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">49,985 </font></font></p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">133,020 </font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=42% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Losses on derivatives (*)</font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,395)</font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(18,693)</font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(452)</font></font></p></td>
 <td colspan=2 nowrap width=5% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,482)</font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=42% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Interest, fines and late payment charges</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(120,514)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(53,401)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(39,812)</font></font></p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(29,626)</font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=42% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">REFIS reopening effect Law 11.941/09, net </font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(118,657)</font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(118,657)</font></font></p></td>
 <td colspan=2 nowrap width=5% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other finance costs</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(144,663)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(109,299)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(44,341)</font></font></p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(43,552)</font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,441,357)</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,779,283)</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(909,944)</font></b></font></p></td>
 <td colspan=2 nowrap width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(661,242)</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=42% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Monetary variations and exchange differences, net</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Monetary variations, net</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,877 </font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(29,627)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,160 </font></font></p></td>
 <td colspan=2 nowrap width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,194 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Exchange differences, net</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(249,120)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">70,314 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(307,945)</font></font></p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,935 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Exchange losses on derivatives (*)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">48,790 </font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,006)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">228,535 </font></font></p></td>
 <td colspan=2 nowrap width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(8,285)</font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(193,453)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">39,681 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(77,250)</font></b></font></p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,844 </font></b></font></p></td>
 </tr>
<tr style="height:3pt;">
  <td nowrap width=42% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=5% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Finance costs, net</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,500,593)</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,582,220)</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(944,459)</font></b></font></p></td>
 <td colspan=2 nowrap width=5% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(597,118)</font></b></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=5 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap width=5% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=42% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">(*) Statement of gains and losses on derivative transactions </font></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=5% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Dollar-to-CDI swap</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,607)</font></font></p></td>
 <td valign=bottom width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">232 </font></font></p></td>
 <td width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">5,480 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(806)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Dollar-to-euro swap (NDF)</font></font></p></td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">34,602 </font></font></p></td>
 <td valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">193,398 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Dollar-to-euro swap (NDF)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">23,570 </font></font></p></td>
 <td valign=bottom width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,031)</font></font></p></td>
 <td width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">22,895 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,056)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Dollar-to-euro swap</font></font></p></td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">7,225 </font></font></p></td>
 <td valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">3,851 </font></font></p></td>
 <td width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">6,762 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(425)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Yen-to-dollar swap</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td valign=bottom width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(58)</font></font></p></td>
 <td width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2 </font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">48,790 </font></b></font></p></td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,006)</font></b></font></p></td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">228,535 </font></b></font></p></td>
 <td colspan=2 nowrap width=5% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(8,285)</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Libor-to-CDI swap </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(943)</font></font></p></td>
 <td valign=bottom width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,385)</font></font></p></td>
 <td width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,091)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Fixed rate-to-CDI swap</font></font></p></td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(452)</font></font></p></td>
 <td valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,308)</font></font></p></td>
 <td width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,635)</font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,391)</font></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,395)</font></b></font></p></td>
 <td valign=bottom width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(18,693)</font></b></font></p></td>
 <td width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=5 nowrap valign=bottom width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(3,635)</font></b></font></p></td>
 <td colspan=2 nowrap valign=bottom width=5% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,482)</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=42% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="border-bottom:windowtext 2.25pt double;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">47,395 </font></b></font></p></td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 2.25pt double;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(19,699)</font></b></font></p></td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap width=11% style="border-bottom:windowtext 2.25pt double;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">224,900 </font></b></font></p></td>
 <td colspan=2 nowrap width=5% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 2.25pt double;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(10,767)</font></b></font></p></td>
 </tr>
<tr>
  <td width=42%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=4%>&nbsp;</td>
 <td width=11%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">70</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_72"></a>

<div style="padding-left:0%;padding-right:0%;">

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004606.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=5 nowrap valign=bottom width=39% style="border-bottom:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=3% style="border-bottom:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=2% style="border-bottom:#000000 1px solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="border-bottom:#000000 1px solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company </font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=32% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=29% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=7 nowrap width=35% style="border-bottom:#000000 1px solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=32% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="background:white;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:white;border-bottom:windowtext 1pt solid;height:12.95pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Finance income</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Related parties (Note 17 b)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">66,374 </font></font></p></td>
 <td nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">35,002 </font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">60,238 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,284 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td width=32% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Income from short-term investments </font></font></p></td>
 <td valign=bottom width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,535 </font></font></p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">13,455 </font></font></p></td>
 <td width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap valign=bottom width=11% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">552 </font></font></p></td>
 <td colspan=2 nowrap valign=bottom width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap valign=bottom width=21% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">8,523 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other income</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">28,350 </font></font></p></td>
 <td nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">50,438 </font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">10,603 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">9,468 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">97,259 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">98,895 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">71,393 </font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">28,275 </font></b></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Finance costs</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Borrowings and financing - foreign currency</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(81,639)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(53,021)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(31,527)</font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(18,335)</font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Borrowings and financing - local currency</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,157,583)</font></font></p></td>
 <td nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(858,415)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(396,954)</font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(327,434)</font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Related parties (Note 17 b)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,279,220)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,148,715)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(290,409)</font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(395,948)</font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=32% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Capitalized interest (Notes 8 and 29)</font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">123,755 </font></font></p></td>
 <td nowrap width=3% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">232,064 </font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">49,985 </font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">86,228 </font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=32% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Losses on derivatives (*)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(943)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,385)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,091)</font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=32% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Interest, fines and late payment charges</font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(109,451)</font></font></p></td>
 <td nowrap width=3% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(64,918)</font></font></p></td>
 <td nowrap width=2% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(35,321)</font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(24,066)</font></font></p></td>
 </tr>
<tr style="height:15pt;">
  <td nowrap width=32% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">REFIS reopening effect Law 11.941/09, net </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(115,309)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(115,309)</font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;height:15pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other finance costs</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(127,381)</font></font></p></td>
 <td nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(81,182)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(36,878)</font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(35,585)</font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,747,771)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,977,572)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(856,413)</font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(716,231)</font></b></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">Monetary variations and exchange differences, net</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Monetary variations, net</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(16,740)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(26,648)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(10,865)</font></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">4,979 </font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Exchange differences, net</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(589,122)</font></font></p></td>
 <td nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(599,044)</font></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,142,912)</font></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(41,414)</font></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(605,862)</font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(625,692)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,153,777)</font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(36,435)</font></b></font></p></td>
 </tr>
<tr style="height:3pt;">
  <td nowrap width=32% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=3% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="height:3pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Finance costs, net</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(3,256,374)</font></b></font></p></td>
 <td nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(2,504,369)</font></b></font></p></td>
 <td nowrap width=2% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,938,797)</font></b></font></p></td>
 <td colspan=2 nowrap width=3% style="height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap width=21% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(724,391)</font></b></font></p></td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=11% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=3% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=2 nowrap width=21% style="background:#dce6f1;height:13.5pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=32% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">(*) Statement of gains and losses on derivative transactions </font></font></p></td>
 <td nowrap width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td width=2% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=11% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=2 nowrap valign=bottom width=21% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=32% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Libor-to-CDI swap </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(943)</font></font></p></td>
 <td align=right valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,385)</font></font></p></td>
 <td align=right width=2% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right colspan=3 nowrap valign=bottom width=11% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right colspan=2 valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right colspan=2 nowrap valign=bottom width=21% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,091)</font></font></p></td>
 </tr>
<tr style="height:9.35pt;">
  <td nowrap valign=bottom width=32%>&nbsp;</td>
 <td nowrap width=2%>&nbsp;</td>
 <td align=right nowrap width=15%>

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(943)&nbsp;&nbsp; </font></b></font></p></td>
 <td align=right nowrap width=3%>&nbsp;</td>
 <td align=right nowrap width=11% style="height:9.35pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(3,385)</font></b></font></p></td>
 <td align=right nowrap width=2%>&nbsp;</td>
 <td align=right colspan=3 nowrap width=11%>

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right colspan=2 nowrap width=3%>&nbsp;</td>
 <td align=right colspan=2 nowrap width=21%>

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,091)&nbsp;&nbsp; </font></b></font></p></td>
 </tr>
<tr>
  <td width=32%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=11%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=2%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=20%>&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">71</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_73"></a>

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<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
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  <td>&nbsp;</td>
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   <img height=54 src="x14112610004607.jpg" width=118></td>
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  <td>&nbsp;</td>
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<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
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</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

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<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">24.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">SEGMENT INFORMATION</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">The information related to segment information did not have changes in relation to that disclosed in the Company's financial statements as of December 31, 2013 and, accordingly, the Company decided not to repeat it in the condensed interim financial statements as of September 30, 2014.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">According to the Group&#8217;s structure, its businesses are distributed into five (5) operating segments.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
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 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
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<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
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 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
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   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
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<tr>
  <td nowrap rowspan=2 width=18% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Profit or loss</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=8% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Steel</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=8% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Mining</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Logistics</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Energy</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Cement</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 valign=bottom width=13% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Corporate expenses/ elimination</font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=11% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Port</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Railroads</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Metric tons (thou.) - (not reviewed) (*)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,924,689 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">18,484,709 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,640,177 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Net revenues</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Domestic market</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">6,679,245 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">252,828 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">146,292 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">837,882 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">248,669 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">331,229 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(776,960)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,719,185 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Foreign market</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,077,929 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,025,359 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(516,202)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,587,086 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total net revenue (Note 20)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,757,174 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,278,187 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">146,292 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">837,882 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">248,669 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">331,229 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,293,162)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,306,271 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Cost of sales and services (Note 21)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(6,651,195)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,252,299)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(97,710)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(580,892)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(140,100)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(222,856)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,251,970 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(8,693,082)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Gross profit</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,105,979 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,025,888 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">48,582 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">256,990 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">108,569 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">108,373 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(41,192)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,613,189 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">General and administrative expenses (Note 21)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(495,232)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(49,445)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,143)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(75,093)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(14,742)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(50,270)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(344,188)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,030,113)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Depreciation (Note 8 a)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">601,073 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">253,517 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,361 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">119,937 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">12,818 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">27,873 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(115,240)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">907,339 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Proportionate EBITDA of jointly controlled entities</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">228,482 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">228,482 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Adjusted EBITDA</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,211,820 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,229,960 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">54,800 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">301,834 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">106,645 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">85,976 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(272,138)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,718,897 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Sales by geographic area</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Asia</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">21,553 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,930,527 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,952,080 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">North America</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">510,809 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">510,809 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Latin America</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">115,093 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">115,093 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Europe</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,414,530 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">94,832 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,509,362 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">15,944 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(516,202)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(500,258)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Foreign market</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,077,929 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,025,359 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(516,202)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,587,086 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Domestic market</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">6,679,245 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">252,828 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">146,292 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">837,882 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">248,669 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">331,229 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(776,960)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">7,719,185 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">TOTAL</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,757,174 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,278,187 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">146,292 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">837,882 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">248,669 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">331,229 </font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,293,162)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,306,271 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap rowspan=2 width=18% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Profit or loss</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=8% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Steel</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=8% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Mining</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Logistics</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Energy</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Cement</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 valign=bottom width=13% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Corporate expenses/ elimination</font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=11% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Port</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Railroads</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Metric tons (thou.) - (not reviewed) (*)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,273,924 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">6,682,099 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">588,994 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Net revenues</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Domestic market</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,138,428 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">70,903 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">39,308 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">334,640 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">96,948 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">119,990 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(316,059)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,484,158 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Foreign market</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">649,297 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">843,078 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(93,547)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,398,828 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total net revenue (Note 20)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,787,725 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">913,981 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">39,308 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">334,640 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">96,948 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">119,990 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(409,606)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,882,986 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Cost of sales and services (Note 21)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,173,391)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(795,965)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(32,728)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(219,481)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(48,986)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(85,992)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">444,582 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,911,961)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Gross profit</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">614,334 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">118,016 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">6,580 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">115,159 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">47,962 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">33,998 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">34,976 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">971,025 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">General and administrative expenses (Note 21)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(161,094)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(13,474)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(341)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(25,364)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,284)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(18,327)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(154,638)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(378,522)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Depreciation (Note 8 a)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">204,563 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">98,630 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,368 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">42,177 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,273 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,057 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(37,323)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">325,745 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Proportionate EBITDA of jointly controlled entities</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">58,259 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">58,259 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Adjusted EBITDA</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">657,803 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">203,172 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,607 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">131,972 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">46,951 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">25,728 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(98,726)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">976,507 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Sales by geographic area</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Asia</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,154 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">810,486 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">815,640 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">North America</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">178,882 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">178,882 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Latin America</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">47,706 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">47,706 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Europe</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">407,343 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">32,592 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">439,935 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,212 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(93,547)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(83,335)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Foreign market</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">649,297 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">843,078 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(93,547)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,398,828 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Domestic market</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,138,428 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">70,903 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">39,308 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">334,640 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">96,948 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">119,990 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(316,059)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,484,158 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">TOTAL</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,787,725 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">913,981 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">39,308 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">334,640 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">96,948 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">119,990 </font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(409,606)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,882,986 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">72</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_74"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004608.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap width=18% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=8% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=1% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=11% style="background:white;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap rowspan=2 width=18% style="border-bottom:black 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Profit or loss</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=8% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Steel</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=8% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Mining</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Logistics</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Energy</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Cement</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 valign=bottom width=13% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Corporate expenses/ elimination</font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=11% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Port</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Railroads</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Metric tons (thou.) - (not reviewed) (*)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,668,491 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">14,655,337 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,502,798 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Net revenues</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Domestic market</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,324,839 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">236,511 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">132,598 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">776,337 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">155,096 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">307,629 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(724,108)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">8,208,902 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Foreign market</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,967,717 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,140,340 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(953,358)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,154,699 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total net revenue (Note 20)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,292,556 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,376,851 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">132,598 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">776,337 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">155,096 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">307,629 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,677,466)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,363,601 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Cost of sales and services (Note 21)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(7,514,714)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,883,276)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(66,324)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(525,072)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(118,741)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(207,318)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,184,435 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(9,131,010)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Gross profit</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,777,842 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,493,575 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">66,274 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">251,265 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">36,355 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">100,311 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(493,031)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,232,591 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">General and administrative expenses (Note 21)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(532,249)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(56,024)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(14,954)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(72,826)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(15,273)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(51,809)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(262,189)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,005,324)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Depreciation (Note 8 a)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">572,641 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">159,016 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,394 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">101,396 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">12,795 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">22,972 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(51,494)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">822,720 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Proportionate EBITDA of jointly controlled entities</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">598,444 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">598,444 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Adjusted EBITDA</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,818,234 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,596,567 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">56,714 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">279,835 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">33,877 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">71,474 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(208,270)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,648,431 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Sales by geographic area</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Asia</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">19,479 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,468,611 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,488,090 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">North America</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">471,237 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">471,237 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Latin America</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">113,007 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">113,007 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Europe</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,342,435 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">671,729 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,014,164 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">21,559 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(953,358)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(931,799)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Foreign market</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,967,717 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,140,340 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(953,358)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,154,699 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Domestic market</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">7,324,839 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">236,511 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">132,598 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">776,337 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">155,096 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">307,629 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(724,108)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,208,902 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">TOTAL</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,292,556 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,376,851 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">132,598 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">776,337 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">155,096 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">307,629 </font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,677,466)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,363,601 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font color=#333333 face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=13% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=1% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=8% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Steel</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=8% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Mining</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Logistics</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Energy</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=6% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Cement</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 valign=bottom width=13% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Corporate expenses/ elimination</font></b></font></p></td>
 <td nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap rowspan=2 width=11% style="border-bottom:black 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Port</font></b></font></p></td>
 <td nowrap width=2% style="border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=8% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Railroads</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Metric tons (thou.) - (not reviewed) (*)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,531,044 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">6,534,083 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">523,503 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Net revenues</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Domestic market</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,523,072 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">81,312 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">50,103 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">288,001 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">55,162 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">104,669 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(268,252)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,834,067 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Foreign market</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">675,204 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,565,024 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(412,879)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,827,349 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total net revenue (Note 20)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,198,276 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,646,336 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">50,103 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">288,001 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">55,162 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">104,669 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(681,131)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,661,416 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Cost of sales and services (Note 21)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(2,531,714)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(828,176)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(23,567)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(176,584)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(44,220)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(70,207)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">415,257 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(3,259,211)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Gross profit</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">666,562 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">818,160 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">26,536 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">111,417 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">10,942 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">34,462 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(265,874)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,402,205 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">General and administrative expenses (Note 21)</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(194,590)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,708)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(4,721)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(26,333)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(5,307)</font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(18,455)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(63,539)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(314,653)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Depreciation (Note 8 a)</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">200,067 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">55,317 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,846 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">34,539 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">4,272 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,587 </font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(31,452)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">272,176 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Proportionate EBITDA of jointly controlled entities</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">292,024 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">292,024 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Adjusted EBITDA</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">672,039 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">871,769 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">23,661 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">119,623 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9,907 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">23,594 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(68,841)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,651,752 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=18% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Sales by geographic area</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Asia</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,277 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,214,175 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,221,452 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">North America</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">161,054 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">161,054 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Latin America</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">39,163 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">39,163 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Europe</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">460,056 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">350,849 </font></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">810,905 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Other</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">7,654 </font></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(412,879)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(405,225)</font></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Foreign market</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">675,204 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,565,024 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(412,879)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,827,349 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="background:#dce6f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Domestic market</font></b></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,523,072 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">81,312 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">50,103 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=8% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">288,001 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">55,162 </font></b></font></p></td>
 <td align=right nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">104,669 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(268,252)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=11% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">2,834,067 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=18% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">TOTAL</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,198,276 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,646,336 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">50,103 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=8% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">288,001 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">55,162 </font></b></font></p></td>
 <td align=right nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">104,669 </font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=13% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(681,131)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap width=11% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,661,416 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9pt;">(*) The ore sales volumes presented in this note take into consideration Company sales and the interest in its subsidiaries and jointly controlled entities (Namisa 60%).</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Adjusted EBITDA is the tool based on which the chief operating decision maker measures segment performance and the capacity to generate recurring operating cash, and consists of profit for the year less net finance income (costs), income tax and social contribution, depreciation and amortization, share of profits of investments, and other operating income (expenses), plus the proportional EBITDA of jointly controlled entities. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">Even though it is an indicator used in segment performance measurements, EBITDA is not a measurement recognized by accounting practices adopted in Brazil or IFRS, does not have a standard definition, and may not be comparable with measurements using similar names provided by other entities. </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">As required by IFRS 8, the table below shows the reconciliation of the measurement used by the chief operating decision maker with the results determined using the accounting practices.</font></font></font></p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">73</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_75"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004609.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=31% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=30% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Profit (Loss) for the period</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(179,259)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,021,090 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(250,388)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">502,888 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Depreciation (Note 8 a)</font></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">907,339 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">822,720 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">325,745 </font></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">272,176 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Income tax and social contribution (Note 13)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">75,274 </font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(240,408)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">32,798 </font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">63,446 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Finance income (Note 23)</font></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">2,500,593 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">1,582,220 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">944,459 </font></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">597,118 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">EBITDA</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,303,947 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,185,622 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,052,614 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,435,628 </font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Other operating income (expenses) (Note 22)</font></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">271,157 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">372,103 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">63,215 </font></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">132,558 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Share of profits of investees</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(84,689)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(507,738)</font></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(197,581)</font></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">(208,458)</font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Proportionate EBITDA of jointly controlled entities</font></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">228,482 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">598,444 </font></font></p></td>
 <td nowrap width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">58,259 </font></font></p></td>
 <td nowrap width=2% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><font style="font-size:8pt;">292,024 </font></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Adjusted EBITDA (*)</font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,718,897 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,648,431 </font></b></font></p></td>
 <td nowrap width=3% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">976,507 </font></b></font></p></td>
 <td nowrap width=2% style="background:#dce6f1;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,651,752 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">(*) The Company discloses its adjusted EBITDA net of its share of profits of investments and other operating income (expenses) because it understands that these should not be included in the calculation of recurring operating cash generation.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">25.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:both;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">EARNINGS PER SHARE (EPS) </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=33% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=31% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=33% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Common shares</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=31% style="border-bottom:windowtext 1pt solid;height:12.75pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Common shares</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=33% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">(Loss)Profit for the period</font></b></font></font></p></td>
 <td align=right nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=14% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right width=14% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=33% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Attributed to owners of the Company </font></font></p></td>
 <td align=right nowrap valign=bottom width=15% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(173,056)</font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=15% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,021,477 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(250,105)</font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">499,682 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Weighted average number of shares</font></font></p></td>
 <td align=right nowrap valign=bottom width=15% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,429,584 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=15% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,457,970 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,388,837 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,457,970 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Basic and diluted EPS</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(0.12105)</font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">0.70062 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(0.18008)</font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">0.34272 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=33% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td colspan=3 nowrap width=31% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended</font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=15% style="border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=33% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=33% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Common shares</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 width=31% style="border-bottom:windowtext 1pt solid;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Common shares</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=33% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font face=arial,sans-serif><b><font lang=EN-US style="font-size:8pt;">(Loss)Profit for the period</font></b></font></font></p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=15% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=14% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td width=14% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=33% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;text-indent:8pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Attributed to owners of the Company </font></font></p></td>
 <td align=right nowrap valign=bottom width=15% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(173,056)</font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=15% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,021,477 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(250,105)</font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:white;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">499,682 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Weighted average number of shares</font></font></p></td>
 <td align=right nowrap valign=bottom width=15% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,429,584 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=15% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,457,970 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,388,837 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,457,970 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=33% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Basic and diluted EPS</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(0.12105)</font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=15% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">0.70062 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(0.18008)</font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=14% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">0.34272 </font></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">74</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_76"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004610.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">26.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">GUARANTEES</font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">The Company is liable for guarantees for its subsidiaries and jointly controlled entities, as follows: </font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:#000000 1px solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=2% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;text-align:right;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Currency</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Maturities</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap width=15% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Loans</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=14% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Tax foreclosure</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=15% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Other</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td colspan=3 nowrap valign=bottom width=16% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Total</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=6% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap width=7% style="border-bottom:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12/31/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Transnordestina Log&#237;sitca</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Up to 9/19/2056 and indefinite</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,485,181 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,875,360 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">38,766 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">20,600 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,975 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">168,009 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,529,922 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,063,969 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">FTL - Ferrovia Transnordestina</font></font></p></td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">11/15/2020</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">140,550 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">125,250 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">142 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">140,692 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">125,250 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Cimentos</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Up to 10/25/2015 and indefinite</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">26,423 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">26,423 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">39,689 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">39,287 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">66,112 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">65,710 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Prada </font></font></p></td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Up to 2/10/2016 and indefinite</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,133 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">10,133 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">21,040 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">21,916 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">31,173 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">32,049 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Energia</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Indefinite</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,829 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,829 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,829 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,829 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Congonhas Min&#233;rios</font></font></p></td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">5/21/2019</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,000,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,000,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,000,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">2,000,000 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Funda&#231;&#227;o CSN</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Indefinite</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,003 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,003 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,003 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,003 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Estanho de Rond&#244;nia </font></font></p></td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">12/31/2014</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">106 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">106 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Others (*)</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">R$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">12/31/2014</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">12,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">12,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total in R$</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,638,734 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,001,613 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">78,151 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">59,985 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">66,952 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">229,212 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,783,837 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">4,290,810 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Islands IX</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">1/15/2015</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">400,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">400,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">400,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">400,000 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Islands XI</font></font></p></td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">9/21/2019</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">750,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">750,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">750,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">750,000 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Islands XII</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Perpetual</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,000,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,000,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,000,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,000,000 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Resources</font></font></p></td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">7/21/2020</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,200,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,200,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,200,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,200,000 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Sepetiba Tecon</font></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">15,708 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">15,708 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Handel</font></font></p></td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">US$</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">6/27/2015</font></font></p></td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">100,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">100,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">100,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">100,000 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total in US$</font></b></font></p></td>
 <td nowrap valign=bottom width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;">&nbsp;</p></td>
 <td nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,450,000 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,465,708 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,450,000 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">3,465,708 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">CSN Steel S.L.</font></font></p></td>
 <td nowrap width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">EUR</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">1/31/2020</font></font></p></td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">120,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">120,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">120,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">120,000 </font></font></p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Lusosider A&#231;os Planos</font></font></p></td>
 <td nowrap width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">EUR</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap valign=bottom width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=center style="line-height:normal;margin:0cm 0cm 0pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:8pt;">Indefinite</font></font></p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">25,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">25,000 </font></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total in EUR</font></b></font></p></td>
 <td nowrap width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">145,000 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">120,000 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">145,000 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">120,000 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=12% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Total in R$</font></b></font></p></td>
 <td nowrap width=5% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=13% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,904,783 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,505,948 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=6% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,904,783 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=7% style="background:#dbe5f1;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">8,505,948 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">13,543,517 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,507,561 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">78,151 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">59,985 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">66,952 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=6% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">229,212 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">13,688,620 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=7% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="line-height:normal;margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">12,796,758 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=12% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=5% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=13% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=6% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=2% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=7% style="padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 10pt;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font face=arial,sans-serif style="line-height:116%;"><font face=arial,sans-serif><font lang=PT-BR style="font-size:9pt;">(*) CSN Corporate Guarantee with the subsidiaries CSN Cimentos, Nacional Min&#233;rios, Companhia Metal&#250;rgica Prada, Cia Metalic Nordeste, Sepetiba Tecon and CSN Energia.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">75</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name="page_77"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD rowSpan=2 align=right>&nbsp;
   <IMG src="x14112610004700.jpg" width=118 height=54></TD></TR>

<TR>

   <TD>&nbsp;</TD>

   <TD>

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=right><B></B>&nbsp;</H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>27.</FONT></B></FONT><FONT face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp; </FONT></B></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>COMMITMENTS</FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -0.55pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>a.</FONT></B></FONT><FONT face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></FONT><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>Take-or-pay contracts</FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>As of September 30, 2014, the Company was a party to take-or-pay contracts as shown in the following table: </FONT></FONT></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Payments in the period</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Type of service</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2013</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2015</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2016</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2017</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">After 2017</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 18.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="18%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>Transportation of iron ore, coal, coke, steel products, cement and mining products.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="3%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">219,147</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">216,766</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">358,032</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">584,537</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">544,767</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">516,974</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">4,430,280</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 18.95pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">6,434,590</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 19.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="18%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>Unloading, storage, movement, loading and railroad transportation services.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="3%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="7%" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">4,915</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">3,339</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">9,046</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">3,769</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.15pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">16,154</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 19.55pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="18%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>Supply of power, natural gas, oxigen, nitrogen, argon and iron ore pellets.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">635,875</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">727,928</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,214</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">127,935</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">127,935</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">26,396</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">157,492</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 19.55pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">446,972</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 21.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="18%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>Processing of slag generated during pig iron and steel production</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">36,157</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">38,601</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">359</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">9,731</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,074</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,074</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT color=#000000 face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">44,212</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">68,450</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="18%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>Manufacturing, repair, recovery and production of ingot casting machine units.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">30,823</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">33,060</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="3%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; HEIGHT: 14.5pt; PADDING-TOP: 0cm" width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" width="18%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">922,002 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">1,021,270 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">368,944 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">731,249 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">683,545 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">550,444 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">4,631,984 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="3%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="8%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">6,966,166 </FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -0.55pt; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>b.</FONT></B></FONT><FONT face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></FONT><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>Concession agreements</FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%" face=arial,sans-serif><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US>Minimum future payments related to government concessions as of September 30, 2014 fall due according to the schedule set out in the following table:</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt"></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="41%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Company</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="41%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Concession</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="41%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Type of service</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2015</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2016</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2017</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">After 2017</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="41%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">MRS</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; PADDING-TOP: 0cm" width="41%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>30-year concession, renewable for another 30 years, to provide iron ore railway transportation services from the Casa de Pedra mines, in Minas Gerais, coke and coal from the Itagua&#237; Port, in Rio de Janeiro, to Volta Redonda, transportation of export goods to the Itagua&#237; and Rio de Janeiro Ports, and shipping of finished goods to the domestic market.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">23,344</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">90,697</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">90,697</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">90,697</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">748,248</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">1,043,683</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%">

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">FTL (Ferrovia Transnordestina Log&#237;stica)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="41%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>30-year concession granted on December 31, 1997, renewable for another 30 years for the development of public utility to operate the Northeastern railway system. The railway system covers 4,238 kilometers of railroads in the states of Maranh&#227;o, Piau&#237;, Cear&#225;, Para&#237;ba, Pernambuco, Alagoas and Rio Grande do Norte.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,908</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,281</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,281</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">7,281</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">68,559</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">92,310</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="41%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Tecar</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dce6f1; PADDING-TOP: 0cm" width="41%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>Concession to operate TECAR, a solid bulk terminal, one of the four terminals that comprise the Itagua&#237; Port, in Rio de Janeiro, for a period ending 2022 and renew able for another 25 years.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">126,989</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">263,858</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">263,858</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">263,858</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,319,290</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2,237,853</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="41%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Tecon</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="41%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US>25-year concession granted in July 2001, renewable for another 25 years, to operate the container terminal at the Itagua&#237; Port.</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">6,491</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">25,965</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">25,965</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">25,965</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">207,724</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">292,110</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="41%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="8%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="41%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">158,732</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">387,801</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">387,801</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">387,801</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">2,343,821</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0cm" width="2%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt">&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">3,665,956</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="41%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="7%" noWrap>&nbsp;</TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 10pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>28.</FONT></B></FONT><FONT face="times new roman"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US>&nbsp;&nbsp; </FONT></B></FONT></FONT><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 9pt" lang=EN-US>INSURANCE </FONT></B></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 116%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 116%"><FONT face=Arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US>In 2014, after negotiation with insurers and reinsurers in Brazil and abroad, an Insurance Issue Certificate was issued for the contracting of a policy of Operational Risk of Property Damages and Loss of Profits, with effect from September 30, 2014 to September 30, 2015. Under the insurance policy, the LMI (Maximum Limit of Indemnity) is US$600,000,000 and covers the following units and subsidiaries of the Company: &nbsp;Usina Presidente Vargas, Minera&#231;&#227;o Casa de Pedra, CSN Paran&#225;, Terminal de Cargas Tecar, Terminal Tecon, Namisa, CSN Handel and Namisa Handel. CSN takes responsibility for a range of retention of US$375,000,000 in excess of the deductibles for property damages and loss of profits.</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV>

<DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">&nbsp;</P></DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>PAGE </FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR>76</FONT></FONT><FONT face="Times New Roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR> of 83</FONT></FONT></P>

<DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">&nbsp;</P></DIV></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<div style="page-break-before:always;">&nbsp;</div>

<a name="page_78"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td>&nbsp;</td>
 <td>&nbsp;</td>
 <td align=right rowspan=2>&nbsp;
   <img height=54 src="x14112610004701.jpg" width=118></td>
 </tr>
<tr>
  <td>&nbsp;</td>
 <td>

<h2 align=right style="margin:0cm 0cm 0pt;page-break-after:avoid;text-align:right;"><b>&nbsp;</b></h2></td>
 </tr>
</table></div>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p>

<p style="margin:0cm 0cm 0pt;">&nbsp;</p></div>

<p style="line-height:116%;margin:0cm 0cm 0pt;text-align:justify;"><font style="line-height:116%;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">In view of their nature, the risk assumptions adopted are not part of the scope of an audit of condensed interim financial statements and, accordingly, were not reviewed by our independent auditors.</font></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">29.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">ADDITIONAL INFORMATION TO CASH FLOWS </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="margin-left:0pt;width:100%;">
 <tr style="height:12pt;">
  <td nowrap valign=bottom width=43% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Parent Company </font></b></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=43% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=3% style="border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td nowrap width=12% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=43% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Income tax and social contribution paid</font></font></p></td>
 <td align=right nowrap valign=bottom width=12% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">81,618 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=12% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">26,493 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=12% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">20,470 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=12% style="background:#dce6f1;height:11.25pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=43% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8pt;">Increase of PP&amp;E with interest capitalization</font></font></p></td>
 <td align=right nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">123,755 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">374,902 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">123,755 </font></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">&nbsp;</td>
 <td align=right nowrap valign=bottom width=12% style="height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">232,064 </font></font></p></td>
 </tr>
<tr style="height:12pt;">
  <td nowrap valign=bottom width=43% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">205,373 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">401,395 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">144,225 </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=3% style="background:#dce6f1;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=12% style="background:#dce6f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;height:12pt;padding-bottom:0cm;padding-left:3.5pt;padding-right:3.5pt;padding-top:0cm;">

   <p align=right style="margin:0cm 0cm 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">232,064 </font></b></font></p></td>
 </tr>
</table></div>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:116%;margin:0cm 0cm 0pt 18pt;text-align:justify;text-indent:-18pt;"><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:line;">30.</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;layout-grid-mode:line;">&nbsp;&nbsp; </font></b></font></font><font style="line-height:116%;"><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:9pt;layout-grid-mode:both;">STATEMENT OF COMPREHENSIVE INCOME </font></b></font></font></p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="width:100%;">
 <tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td colspan=7 nowrap width=59% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Consolidated </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td colspan=3 nowrap width=29% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Nine-month period ended </font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td colspan=3 nowrap width=29% style="border-bottom:#000000 1px solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Three-month period ended </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2014</font></b></font></p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=14% style="border-bottom:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face=arial,sans-serif><b><font style="font-size:8pt;">9/30/2013</font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Profit for the period </font></b></font></p></td>
 <td align=right nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(179,259)</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,021,090 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(250,388)</font></b></font></p></td>
 <td align=right nowrap valign=bottom width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap valign=bottom width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">502,888 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Other comprehensive income </font></b></font></p></td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td valign=bottom width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:16.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">Items that will not be subsequently reclassified to the statement of income</font></b></font></p></td>
 <td nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Actuarial gains on defined benefit pension plan from investments in subsidiaries </font></font></p></td>
 <td align=right nowrap valign=bottom width=14% style="padding-left:5.4pt;padding-right:5.4pt;"><font face=arial,sans-serif><font style="font-size:8pt;">1,710</font></font></td>
 <td nowrap valign=bottom width=1%>&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:right;">&nbsp;</p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24.1pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">1,710 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td valign=bottom width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:16.05pt;"><font color=#000000 face=arial,sans-serif><b><font style="font-size:8pt;">Items that could be subsequently reclassified to the statement of income</font></b></font></p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Cumulative translation adjustments for the period </font></font></p></td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(26,602)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">128,932 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">60,745 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">47,884 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Available-for-sale financial assets </font></font></p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,241,037)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(459,517)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(151,034)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">532,567 </font></font></p></td>
 </tr>
<tr>
  <td width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Income tax and social contribution on available-for-sale financial assets </font></font></p></td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">421,952 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">156,236 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">51,351 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(181,073)</font></font></p></td>
 </tr>
<tr>
  <td colspan=4 nowrap valign=bottom width=70% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Available-for-sale financial assets from investments in subsidiaries</font></font></p></td>
 <td nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 <td nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap valign=bottom width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Impairment of available-for-sale financial assets</font></font></p></td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">72,104 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">5,002 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">19,989 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap valign=bottom width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">Income tax and social contribution on impairment of available-for-sale financial assets</font></font></p></td>
 <td align=right nowrap valign=bottom width=14% style="background-color:#dce6f1;padding-left:5.4pt;padding-right:5.4pt;">&nbsp;<font face=arial,sans-serif><font style="font-size:8pt;">(24,515)</font></font></td>
 <td nowrap valign=bottom width=1% style="background-color:#dce6f1;">&nbsp;</td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;"><font face=arial,sans-serif><font style="font-size:8pt;">

   </font><p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,701)</font></font></p></font></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(6,796)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(Loss)/gain on the percentage change of investments </font></font></p></td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(73,054)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(73,054)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:24.1pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(871,152)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(171,048)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(98,799)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">399,378 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(869,442)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(171,048)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(98,799)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">399,378 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td valign=bottom width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;text-indent:16.05pt;"><font color=black face=arial,sans-serif><b><font style="font-size:8pt;">Total comprehensive income for the period</font></b></font></p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,048,701)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">850,042 </font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(349,187)</font></b></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">902,266 </font></b></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 </tr>
<tr>
  <td nowrap width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;"><font face=arial,sans-serif><b><font style="font-size:8pt;">Attributable to: </font></b></font></p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;"><font face=arial,sans-serif><font style="font-size:8pt;">Owners of the Company </font></font></p></td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(1,042,498)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">850,429 </font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(348,904)</font></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">899,060 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=left style="margin:0in 0in 0pt;text-align:left;"><font face=arial,sans-serif><font style="font-size:8pt;">Non-controlling interests </font></font></p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(6,203)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(387)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">(283)</font></font></p></td>
 <td align=right nowrap width=1% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;">&nbsp;</p></td>
 <td align=right nowrap width=14% style="background:#dbe5f1;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><font style="font-size:8pt;">3,206 </font></font></p></td>
 </tr>
<tr>
  <td nowrap width=41% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(1,048,701)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">850,042 </font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">(349,187)</font></b></font></p></td>
 <td align=right nowrap width=1% style="padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">&nbsp;</td>
 <td align=right nowrap width=14% style="border-bottom:windowtext 2.25pt double;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:5.4pt;padding-right:5.4pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;"><font face=arial,sans-serif><b><font style="font-size:8pt;">902,266 </font></b></font></p></td>
 </tr>
</table></div>

<p style="margin:0in 0in 10pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<p style="line-height:115%;margin:0cm 0cm 0pt;text-align:justify;">&nbsp;</p>

<div>

<div style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:windowtext 1pt solid;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:1pt;">

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div>

<p align=right style="margin:0cm 0cm 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">PAGE </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">77</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;"> of 83</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0cm 0cm 0pt;padding-bottom:0cm;padding-left:0cm;padding-right:0cm;padding-top:0cm;">&nbsp;</p></div></div></div>

<hr align=center noshade size=2 width="100%">



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name="page_79"></A>

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<DIV><FONT face="Times New Roman">

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD rowSpan=2 align=right>&nbsp;
   <IMG src="x14112610004702.jpg" width=118 height=54></TD></TR>

<TR>

   <TD>&nbsp;</TD>

   <TD>

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=right><B></B>&nbsp;</H2></TD></TR></TABLE></DIV><FONT style="FONT-SIZE: 10pt" lang=PT-BR><BR clear=all></FONT></FONT>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="59%" colSpan=7 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Parent Company </FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="29%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Nine-month period ended </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="29%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Three-month period ended </FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9/30/2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9/30/2013</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9/30/2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">9/30/2013</FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Profit for the period </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(173,056)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">1,021,477 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(250,105)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">499,682 </FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Other comprehensive income </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 16.05pt; MARGIN: 0in 0in 0pt" align=left><FONT color=black face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Items that will not be subsequently reclassified to the statement of income</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Actuarial gains on defined benefit pension plan from investments in subsidiaries </FONT></FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" noWrap align=right>&nbsp;<FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">1,710</FONT></FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24.1pt; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">1,710 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 16.05pt; MARGIN: 0in 0in 0pt" align=left><FONT color=#000000 face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Items that could be subsequently reclassified to the statement of income</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Cumulative translation adjustments for the period </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(26,602)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">128,932 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">60,745 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">47,884 </FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Available-for-sale financial assets </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(1,208,939)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(203,457)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(149,474)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">538,983 </FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%">

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Income tax and social contribution on available-for-sale financial assets </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">411,039</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">69,175 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">50,821 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(183,255)</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Available-for-sale financial assets from investments in subsidiaries</FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #dce6f1" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #dce6f1; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" noWrap align=right>&nbsp;<FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(17,470)</FONT></FONT></TD>

   <TD style="BACKGROUND-COLOR: #dce6f1" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #dce6f1; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" noWrap align=right>&nbsp;<FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(167,922)</FONT></FONT></TD>

   <TD style="BACKGROUND-COLOR: #dce6f1" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #dce6f1" vAlign=bottom width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #dce6f1" vAlign=bottom width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #dce6f1; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" noWrap align=right>&nbsp;<FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(4,234)</FONT></FONT></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Impairment of available-for-sale financial assets</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">66,476 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">3,369 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">18,429 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="41%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Income tax and social contribution on impairment of available-for-sale financial assets</FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #dce6f1; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=middle width="14%" noWrap align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(22,602)</FONT></FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(1,145)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(6,266)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(Loss)/gain on the percentage change of investments </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(73,054)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(73,054)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 24.1pt; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(871,152)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(171,048)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(98,799)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">399,378 </FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(869,442)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(171,048)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(98,799)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">399,378 </FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="TEXT-ALIGN: left; TEXT-INDENT: 16.05pt; MARGIN: 0in 0in 0pt" align=left><FONT color=#000000 face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Total comprehensive income for the period</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(1,042,498)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">850,429 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(348,904)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; PADDING-TOP: 0in" width="1%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #dbe5f1; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">899,060 </FONT></B></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">Attributable to: </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">Owners of the Company </FONT></FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(1,042,498)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">850,429 </FONT></FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">(348,904)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 8pt">899,060 </FONT></FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(1,042,498)</FONT></B></FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">850,429 </FONT></B></FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">(348,904)</FONT></B></FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt">899,060 </FONT></B></FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>Companhia Sider&#250;rgica Nacional</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">(Convenience Translation into English from the Original Previously Issued in Portuguese)</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt"><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION</FONT></U></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12.5pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">To the Board of Directors and Shareholders of</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12.5pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=PT-BR face="Times New Roman">Companhia Sider&#250;rgica Nacional</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12.5pt; MARGIN: 0cm 0cm 12pt"><U><FONT style="FONT-SIZE: 12pt" lang=PT-BR face="Times New Roman">S&#227;o Paulo &#8211; SP</FONT></U></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Introduction</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">We have reviewed the accompanying individual and consolidated interim financial information of Companhia Sider&#250;rgica Nacional (&#8220;the Company&#8221;), identified as Parent and Consolidated, respectively, included in the Interim Financial Information Form (ITR), for the nine-month period ended September 30, 2014, which comprises the balance sheet as of September 30, 2014 and the related statements of income, and of comprehensive income, for the nine-months periods then ended and of changes in equity and of cash flows for the nine-month period then ended, including the explanatory notes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s management is responsible for the preparation of the individual interim financial information in accordance with technical pronouncement CPC 21 (R1) &#8211; Interim Financial Information and of the consolidated interim financial information in accordance with technical pronouncement CPC 21 (R1) and with international standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board - IASB, as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM), applicable to the preparation of Interim Financial Information (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Scope of review</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">We conducted our review in accordance with Brazilian and international standards on review of interim financial information (NBC TR 2410 and ISRE 2410 &#8211; Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with standards on auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.</FONT></P>

<P style="LINE-HEIGHT: 12.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Conclusion on the individual interim financial information</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual interim financial information included in the ITR referred to above was not prepared, in all material respects, in accordance with technical pronouncement CPC 21 (R1), applicable to the preparation of the Interim Financial Information (ITR) and presented in accordance with the standards issued by the Brazilian Securities Commission.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Conclusion on the consolidated interim financial information</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial information included in the ITR referred to above <FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">was not prepared, in all material respects, in accordance with technical pronouncement CPC 21 (R1) and international standard IAS 34, applicable to the preparation of Interim Financial Information (ITR) and presented in accordance with the standards issued by the Brazilian Securities Commission.</FONT></FONT>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Other matters</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Statements of value added</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">We have also reviewed the individual and consolidated interim statements of value added (DVA), for the nine-month period ended </FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">September 30, 2014</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">, prepared under the responsibility of the Company's Management, the presentation of which is required by the standards issued by the CVM applicable to the preparation of Interim Financial Information (ITR), and considered as supplemental information for International Financial Reporting Standards &#8211; IFRS, which do not require the presentation of DVA. These statements were subject to the same review procedures described above and, based on our review, nothing has come to our attention that causes us to believe that they were not prepared, in all material respects, consistently with the individual and consolidated interim financial information taken as a whole.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 36pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The accompanying individual and consolidated </FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face=times>interim financial information </FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">has been translated into English for the convenience of readers outside Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 36pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">S&#227;o Paulo, November 13, 2014</FONT></P>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">Roberto Wagner Promenzio</FONT></P></TD></TR>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">SIGNATURE </FONT></DIV>

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<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></DIV>

<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;November 26, 2014</FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman">COMPANHIA SIDER&#218;RGICA NACIONAL </FONT></DIV></TD></TR>

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   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;Benjamin Steinbruch </FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Benjamin Steinbruch </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Chief Executive Officer <BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></DIV></TD>

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   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;David Moise Salama </FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>David Moise Salama </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Investor Relations Executive Officer <BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

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<DIV>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

<P align=justify><FONT size=2 face="Times New Roman, Times, Serif">This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. </FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
